Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2019 (Cth)

Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2019

I, CHRISTIAN PORTER, Minister for Industrial Relations, make the following instrument.

Dated   26 June 2019

CHRISTIAN PORTER

Minister for Industrial Relations

Contents

1  Name........................................................................................................................................ 3

2  Commencement........................................................................................................................ 3

3  Authority.................................................................................................................................. 3

4  Definitions................................................................................................................................ 3

5  Schedule................................................................................................................................... 3

6  Specified rate............................................................................................................................ 3

Schedule 1—Repeals   4

1  Name

This instrument is the Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2019.

2  Commencement

This instrument commences on 1 July 2019.

3  Authority

This instrument is made under subsection 21(5) of the Safety, Rehabilitation and Compensation Act 1988.

4  Definitions

In this instrument:

Act means the Safety, Rehabilitation and Compensation Act 1988.

5  Schedule

Each instrument that is specified in Schedule 1 to this instrument is amended or repealed as set out in the applicable items in that Schedule, and any other item in that Schedule has effect according to its terms.

6Specified rate

For the purposes of the definition of weekly interest on the lump sum in
subsections 21(3) and 21A(3) of the Act, the rate of 2.52 per cent per annum is specified for the period from 1 July 2019 to 30 June 2020.

Schedule 1—Repeals

Note:      See section 5.

Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2018

1  The whole of the instrument

Repeal the instrument.