{"id":"F2026L00377","name":"Safety, Rehabilitation and Compensation (Defence-related Claims) (Rate of Interest—Permanent Impairment Compensation) Instrument 2026","slug":"safety-rehabilitation-and-compensation-defence-related-claims-rate-of-interest-permanent-impairment-","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":107990,"registerId":"commonwealth-F2026L00377-current","compilationNumber":null,"startDate":"2026-04-03","status":"InForce","reasons":null,"registeredAt":null},"sections":[{"sectionNumber":"1","sectionType":"section","heading":"Name","content":"#### 1 Name\n\n  This instrument is the Safety, Rehabilitation and Compensation (Defence-related Claims) (Rate of Interest—Permanent Impairment Compensation) Instrument 2026.","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n  This instrument commences at the same time as the Safety, Rehabilitation and Compensation (Rate of Interest Payable – s26(3)) Notice 2026.","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Authority","content":"#### 3 Authority\n\n  This instrument is made under subsection 26(3) of the Act.","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Repeal of deemed legislative instrument","content":"#### 4 Repeal of deemed legislative instrument\n\n  The Safety, Rehabilitation and Compensation (Rate of Interest Payable – s26(3)) Notice 2016 is repealed to the extent that it is taken to have been made under the Act because of item 63 of Schedule 1 of the Safety, Rehabilitation and Compensation Legislation Amendment (Defence Force) Act 2017.","sortOrder":3},{"sectionNumber":"5","sectionType":"section","heading":"Definitions","content":"#### 5 Definitions\n\n  In this instrument:\n\n> Act means the Safety, Rehabilitation and Compensation (Defence-related Claims) Act 1988.","sortOrder":4},{"sectionNumber":"6","sectionType":"section","heading":"Rate of interest","content":"#### 6 Rate of interest\n\n  (1) For subsection 26(3) of the Act, the rate of interest is the weighted average yield of 90 day bank-accepted bills, as published by the Reserve Bank of Australia, settled immediately prior to the last day of the thirty day settlement period.","sortOrder":5}],"analysis":{"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument does not alter who is eligible for permanent impairment compensation under the Act. It specifies the technical method for calculating interest payable under subsection 26(3) and removes an overlapping earlier notice insofar as it applied under the Act; the change is procedural and rate-defining rather than a change to the substantive coverage of the Act."},"complexity_factors":["Very narrow subject matter: sets a single formula for an interest rate rather than broad regulatory rules.","Dependence on external financial data: relies on the Reserve Bank of Australia's published weighted-average yield for 90-day bank-accepted bills.","Precise timing rule for rate selection: uses the publication \"settled immediately prior to the last day of the thirty day settlement period\" which requires correct identification of the settlement window.","Inter- instrument interaction: repeals an earlier 2016 notice to the extent it applied under the Act, creating a need to reconcile prior instruments and Schedule 1 item 63 of a 2017 amendment.","Delegated-power linkage: operates as a legislative instrument under subsection 26(3) of the Act, so its operation depends on how that subsection is applied in practice."],"plain_english_summary":"This instrument fixes the interest rate applied to delayed payments of permanent impairment compensation under the Safety, Rehabilitation and Compensation (Defence-related Claims) Act 1988. It affects claimants entitled to those payments and the government agency required to pay them.\n\nThe rate is the weighted-average yield of 90-day bank-accepted bills published by the Reserve Bank of Australia, measured just before the end of the 30-day settlement period; the instrument also repeals a prior notice insofar as it applied under the Act (s6)."},"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs a narrow, technical function exactly as intended by the parent Act. It replaces a 2016 instrument with an updated interest rate calculation method, maintaining the same scope."},"complexity_factors":["Extremely short: only 6 sections spanning approximately 200 words","Only 1 defined term ('Act')","Single operative provision (section 6) with straightforward formula","No cross-references to other legislation beyond the parent Act citation","No conditional logic, exceptions, or nested provisions","Technical but not legally complex — the complexity lies in the financial calculation method, not the legal structure"],"plain_english_summary":"This instrument sets the interest rate applied when the government delays paying permanent-impairment compensation to current and former Australian Defence Force members under the Defence-related Claims Act. It ties the rate to the market by using the average 90-day bank bill rate over the 30 days before payment, so veterans receive transparent, market-based compensation for delays."}},"importantCases":[],"_links":{"self":"/api/acts/safety-rehabilitation-and-compensation-defence-related-claims-rate-of-interest-permanent-impairment-","history":"/api/acts/safety-rehabilitation-and-compensation-defence-related-claims-rate-of-interest-permanent-impairment-/history","analysis":"/api/acts/safety-rehabilitation-and-compensation-defence-related-claims-rate-of-interest-permanent-impairment-/analysis","conflicts":"/api/acts/safety-rehabilitation-and-compensation-defence-related-claims-rate-of-interest-permanent-impairment-/conflicts","importantCases":"/api/acts/safety-rehabilitation-and-compensation-defence-related-claims-rate-of-interest-permanent-impairment-/important-cases","documents":"/api/acts/safety-rehabilitation-and-compensation-defence-related-claims-rate-of-interest-permanent-impairment-/documents"}}