{"id":"F2005B01170","name":"Determination of Rate of Interest (MRCA Instrument No. 6 of 2004)","slug":"determination-of-rate-of-interest-mrca-instrument-no-6-of-2004","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"repealed","isInForce":false,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":32472,"registerId":"commonwealth-F2005B01170-current","compilationNumber":null,"startDate":"2026-04-01","status":"Repealed","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Determination of Rate of Interest (MRCA Instrument No. 6 of 2004)","content":"---\nmeta-content-style-type: text/css\nmeta-content-type: application/xhtml+xml; charset=utf-8\nmeta-generator: Aspose.Words for .NET 20.2\ntitle: MILITARY REHABILITATION AND COMPENSATION ACT 2004\n---\n\n?xml version=\"1.0\" encoding=\"utf-8\" standalone=\"no\"?>\n\n# MILITARY REHABILITATION AND COMPENSATION ACT 2004\n\n \n\n## SUBSECTION 79(3)\n\n# (MRCA Instrument No. 6 of 2004)\n\n# DETERMINATION OF RATE OF INTEREST\n\n \n\n1. I, DANNA VALE, Minister for Veterans’ Affairs determine that the rate of interest for the purposes of subsection 79(3) of the Military Rehabilitation and Compensation Act 2004 is specified to be the weighted average yield derived from the Treasury note tender for ninety day notes settled immediately before the last day of the 30 day settlement period.\n\n\n \n\n2.      This determination commences on 1 July 2004.\n\n \n\n \n\nDated this     1st        day of       June               2004\n\n \n\n \n\n \n\n \n\n \n\n……………………….\n\nDANNA VALE\n\nMINISTER FOR VETERANS’ AFFAIRS\n\n \n","sortOrder":0}],"analysis":{"kimi_summary":{"_metrics":{"model":"kimi-k2.5","source":"moonshot-batch","completionTokens":1160},"content_quality":"ok","complexity_score":1,"scope_assessment":{"changed":false,"description":"This is the original 2004 instrument establishing the interest rate methodology. It fulfills the specific statutory requirement in subsection 79(3) without expanding beyond the intended administrative function of setting a financial benchmark."},"complexity_factors":["Single operative provision containing the rate formula","No interpretation section or defined terms","No conditional logic, exceptions, or nested provisions","Only references one subsection of the parent Act"],"plain_english_summary":"This determination sets the formula for calculating interest rates under the Military Rehabilitation and Compensation Act 2004 (the law that provides compensation and support for injured Australian Defence Force members).\n\n**What it does:**\nIt specifies that the interest rate is the weighted average yield from 90-day Treasury notes (short-term government bonds) from the tender settled immediately before the end of the 30-day settlement period. In plain terms, it ties the interest rate to short-term government debt market rates.\n\n**Who it affects:**\nVeterans, serving defence personnel, and their families who have financial dealings under the Military Rehabilitation and Compensation Act where interest applies — for example, interest on delayed compensation payments or overpayments that need to be repaid.\n\n**Why it matters:**\nIt ensures interest calculations use a transparent, market-based rate rather than a fixed arbitrary percentage, keeping payments fair and in line with current financial markets."}},"importantCases":[],"_links":{"self":"/api/acts/determination-of-rate-of-interest-mrca-instrument-no-6-of-2004","history":"/api/acts/determination-of-rate-of-interest-mrca-instrument-no-6-of-2004/history","analysis":"/api/acts/determination-of-rate-of-interest-mrca-instrument-no-6-of-2004/analysis","conflicts":"/api/acts/determination-of-rate-of-interest-mrca-instrument-no-6-of-2004/conflicts","importantCases":"/api/acts/determination-of-rate-of-interest-mrca-instrument-no-6-of-2004/important-cases","documents":"/api/acts/determination-of-rate-of-interest-mrca-instrument-no-6-of-2004/documents"}}