77Scheme penalty rates—the Act, Schedule 4A, cl 99

77 Scheme penalty rates—the Act, Schedule 4A, cl 99

77 Scheme penalty rates—the Act, Schedule 4A, cl 99

(1) The scheme penalty rate is—

(a) for the 2022–2023 compliance period—$2.35 per certificate, or

(b) for each subsequent compliance period—the amount calculated as follows—

where—

CPIcurrent year is the consumer price index for the June quarter immediately before the beginning of the compliance period.

CPIJun 22 is the consumer price index for the June quarter 2022.

(2) The amount of the scheme penalty rate must be rounded up to the nearest cent.

(3) The scheme penalty rate for each compliance period must be published on the Scheme Regulator’s website before the beginning of the compliance period.