6Maximum amount payable from Fund

6 Maximum amount payable from Fund

(1)  In this regulation –

CPI figure for Hobart means the Consumer Price Index (All Groups) Number for Hobart published by the Australian Statistician under the authority of the Census and Statistics Act 1905 of the Commonwealth;

percentage change, in relation to a financial year, means the percentage change between –

(a) the average of the CPI figures for Hobart in respect of the 4 quarters ending on 31 December immediately preceding the financial year; and

(b) the average of the CPI figures for Hobart in respect of the 4 quarters ending on 31 December immediately preceding the 4 quarters referred to in paragraph (a) ;

subsequent financial year means a financial year after the financial year that ends on 30 June 2024.

(2)  For the purposes of section 7A of the Act, the maximum amount payable to a person in respect of an indemnity certificate, a certificate referred to in section 15(1)(c) of the Act, or some other entitlement conferred by the Act is –

(a) for the financial year ending on 30 June 2024, $18 000; and

(b) for a subsequent financial year –

(i) the amount calculated by increasing the maximum amount payable for the immediately preceding financial year by the percentage change for the subsequent financial year; or

(ii) if a maximum amount payable calculated under subparagraph (i) for a financial year is less than the maximum amount payable for the immediately preceding financial year, the maximum amount payable for the immediately preceding financial year.

(3)  A maximum amount payable, as set or calculated by this regulation, is to be published on a website, accessible to the general public, that is maintained by, or on behalf of, the Department while the maximum amount payable is in force.