Competition and Consumer Act 2010
87MMaximum amount of damages for non-economic loss
Start here
Get a plain-English read of 87M
Turn the raw legal text into a practical explanation grounded in Competition and Consumer Act 2010.
87M Maximum amount of damages for non‑economic loss
(1) The maximum amount of damages for non‑economic loss is:
(a) during the year in which this Part commences—$250,000; or
(b) during a later year—the amount worked out (to the nearest multiple of $10) as follows:
where:
current September CPI number is the index number for the quarter ending on 30 September in the year immediately preceding that later year.
previous maximum amount is the maximum amount of damages for non‑economic loss during the year immediately preceding that later year.
previous September CPI number is the index number for the quarter ending on the 30 September immediately preceding the 30 September referred to in the definition of current September CPI number.
(2) If an amount worked out under paragraph (1)(b) is a multiple of $5 (but not a multiple of $10), round the amount up to the nearest multiple of $10.
(3) This section does not affect the operation of section 86AA.