{"id":"F2025L00680","name":"Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2025","slug":"safety-rehabilitation-and-compensation-weekly-interest-on-the-lump-sum-instrument-2025","collection":"legislative_instrument","jurisdiction":"commonwealth","status":"in_force","isInForce":true,"actNumber":null,"makingDate":null,"administeringDepartment":null,"currentVersion":{"id":106456,"registerId":"commonwealth-F2025L00680-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 (Weekly Interest on the Lump Sum) Instrument 2025.","sortOrder":0},{"sectionNumber":"2","sectionType":"section","heading":"Commencement","content":"#### 2 Commencement\n\n  This instrument commences 1 July 2025.","sortOrder":1},{"sectionNumber":"3","sectionType":"section","heading":"Authority","content":"#### 3 Authority\n\n  This instrument is made under subsection 21(5) of the Safety, Rehabilitation and Compensation Act 1988.","sortOrder":2},{"sectionNumber":"4","sectionType":"section","heading":"Definitions","content":"#### 4 Definitions\n\n  In this instrument:\n\n> Act means the Safety, Rehabilitation and Compensation Act 1988.","sortOrder":3},{"sectionNumber":"5","sectionType":"section","heading":"Schedules","content":"#### 5 Schedules\n\n  Each instrument that is specified in Schedule 1 to this instrument is amended or repealed as set out in the applicable items in that Schedule, and any other item in that Schedule has effect according to its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.","sortOrder":4},{"sectionNumber":"6","sectionType":"section","heading":"Specified rate","content":"#### 6 Specified rate\n\n  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 4.29 per cent per annum is specified for the period from 1 July 2025 to 30 June 2026.\n\nSchedule 1—Repeals\n\nSafety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2024\n\nNote: See section 5.\n\n1 The whole of the instrument\n\nRepeal the instrument","sortOrder":5}],"analysis":{"kimi_summary":{"content_quality":"ok","complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument performs exactly the same function as its 2024 predecessor and follows the established annual pattern of setting the weekly interest rate. The scope remains tightly confined to specifying a single numerical rate for a single financial year."},"complexity_factors":["Only 1 defined term ('Act')","Single operative provision (section 6) with straightforward rate specification","No nested conditions or cross-references beyond basic statutory citations","Mechanical repeal of predecessor instrument in Schedule 1","Total length: approximately 200 words"],"plain_english_summary":"This is a short, technical instrument that sets the interest rate for a specific type of workers' compensation payment.\n\n**What it does:**\n- Sets the **weekly interest rate on lump sum payments** at **4.29% per annum** for the 2025-26 financial year (1 July 2025 to 30 June 2026).\n- Repeals the previous year's instrument (the 2024 version) to avoid having two conflicting rates in force.\n\n**Who it affects:**\n- People receiving **workers' compensation** under the federal Safety, Rehabilitation and Compensation Act 1988 — specifically those who have received or are entitled to lump sum payments for permanent impairment.\n- The \"weekly interest on the lump sum\" is a calculation used to work out ongoing weekly payments when a lump sum has been paid out.\n\n**Why it matters:**\n- This rate directly affects how much money injured workers receive in their ongoing weekly payments after they've accepted a lump sum for permanent impairment. A higher rate means higher weekly payments; a lower rate means less.\n- The rate is updated annually to reflect economic conditions (likely based on government bond yields or similar benchmarks)."},"flash_summary":{"complexity_score":2,"scope_assessment":{"changed":false,"description":"This instrument does not change the categories of persons or activities covered by the Act; it only specifies the annual interest rate for one financial year and repeals the 2024 instrument (s6; Schedule 1). The enabling power remains the same (s3), so the legal scope and decision‑maker authority are unchanged."},"complexity_factors":["Single substantive change: specification of a numerical annual interest rate (s6)","Temporal scope limited to a single 12‑month period (s6)","Direct reference to calculation provisions in the principal Act (subsections 21(3) and 21A(3)) increasing dependency on those definitions (s6)","Formalities only: commencement date and enabling authority stated (s2, s3)","Repeal of prior annual instrument rather than creation of new substantive regime (Schedule 1)","Low administrative and compliance burden—administrators merely apply updated rate (s6)"],"plain_english_summary":"This instrument fixes the weekly interest rate on lump-sum workers’ compensation payments at 4.29% per annum for 1 July 2025 to 30 June 2026, for use in calculating amounts under subsections 21(3) and 21A(3) of the Safety, Rehabilitation and Compensation Act 1988 (s6). It commences 1 July 2025 (s2), is made under s21(5) of the Act (s3), and repeals the 2024 instrument (Schedule 1). It directly changes the monetary amount payable under the Act and requires administrators to apply the new rate (s6)."}},"importantCases":[],"_links":{"self":"/api/acts/safety-rehabilitation-and-compensation-weekly-interest-on-the-lump-sum-instrument-2025","history":"/api/acts/safety-rehabilitation-and-compensation-weekly-interest-on-the-lump-sum-instrument-2025/history","analysis":"/api/acts/safety-rehabilitation-and-compensation-weekly-interest-on-the-lump-sum-instrument-2025/analysis","conflicts":"/api/acts/safety-rehabilitation-and-compensation-weekly-interest-on-the-lump-sum-instrument-2025/conflicts","importantCases":"/api/acts/safety-rehabilitation-and-compensation-weekly-interest-on-the-lump-sum-instrument-2025/important-cases","documents":"/api/acts/safety-rehabilitation-and-compensation-weekly-interest-on-the-lump-sum-instrument-2025/documents"}}