59Specified fees and fee components are subject to indexation

59 Specified fees and fee components are subject to indexation

(1) This Part applies to: (a) each amount of a fee specified in this instrument; and (b) each amount specified in subparagraph (a)(i), and paragraph (b), of column 2 of an item of the table in section 10.

Note: This Part does not directly apply to the amount of a fee that is worked out, but not specified, in this instrument. This Part does not apply to a fee constant.

(2) Each of these amounts is to be indexed on the first day of each financial year starting on or after 1 July 2024. An amount is indexed by multiplying it by its indexation factor. (3) If after indexation an amount is not a multiple of $100, round down the indexed amount to the nearest multiple of $100. (4) If the indexed amount worked out under subsection (2) (after any rounding under subsection (3)) is: (a) for the financial year starting on 1 July 2024—less than the amount (the original amount) to be indexed on that day, the indexed amount for that financial year is the original amount; or (b) for any later financial year (the current year)—less than the indexed amount for the previous financial year, the indexed amount for the current year is the indexed amount for the previous financial year.