6Setting of value of fee unit

6 Setting of value of fee unit

[Section 6 Subsection (2) substituted by No. 21 of 2000, s. 5, Applied:31 May 2000] [Section 6 Substituted by No. 34 of 2023, s. 6, Applied:01 Jan 2024]

(1)  On or before 1 April in each calendar year, the Minister is to publish in the Gazette notice of –

(a) the value of a fee unit, calculated in accordance with section 5 , in respect of the financial year commencing on 1 July in that calendar year; and

(b) the fee unit adjustment factor, determined in respect of the financial year in accordance with section 5(4) , that is used in the calculation of the value of the fee unit, together with a brief description of the matters taken into consideration in determining under section 5(4) the fee unit adjustment factor.

(2)  Section 8 , and section 47(3), (3A), (4), (5), (6) and (7) of the Acts Interpretation Act 1931 apply to a notice published under subsection (1) as if it were regulations within the meaning of that Act.

(3)  In each financial year, the value of a fee unit in respect of that financial year (the relevant year) is –

(a) subject to paragraph (b) , the value of a fee unit specified in the notice that is published under subsection (1) in respect of the relevant year; or

(b) the value of a fee unit in respect of the financial year that immediately precedes the relevant year if –

(i) no notice is published under subsection (1) in respect of the relevant year; or

(ii) the notice that is published under subsection (1) in respect of the relevant year is disallowed or rescinded before, or during, the relevant year.