60Calculation of adjustment rate

60 Calculation of adjustment rate

(1)  For the purposes of the definition of adjustment rate in section 54 , the rate for a year is the ratio between –

(a) the Consumer Price Index: All Groups Index for Hobart published by the Australian Statistician under the authority of the Census and Statistics Act 1905 of the Commonwealth for the March quarter of that year; and

(b) the Consumer Price Index: All Groups Index for Hobart for the March quarter of the previous year.

(2)  If the rate for a year calculated in accordance with this section is 1, there is taken to be no adjustment rate for that year.

(3)  If, under subsection (2) , there is taken to be no adjustment rate for a year, then, for the purposes of calculating the adjustment rate for the next year, the Consumer Price Index: All Groups Index for Hobart for the March quarter of the last year for which there was an adjustment rate is taken also to be the Consumer Price Index: All Groups Index for Hobart for the March quarter of the first-mentioned year.

(4)  If at any time, whether before or after the commencement of this section, the Australian Statistician has published for the March quarter of a year an index in substitution for the Consumer Price Index: All Groups Index for Hobart for the March quarter previously published by the Australian Statistician in respect of that year –

(a) if the Minister so directs, regard is to be had to the later index for the purposes of this section; or

(b) if the Minister does not so direct, the publication of the later index is to be disregarded for the purposes of this section.