6The visa application charge limit—contributory parent visas

6 The visa application charge limit—contributory parent visas

Financial year beginning 1 July 2002 (1) The charge limit in relation to a visa application for a contributory parent visa made during the financial year beginning on 1 July 2002 is $26,745. Later financial years (2) The charge limit for a later financial year is the amount worked out under subsection (3) or (5), depending on the amount of the Contributory Parent Visa Composite Index for the later financial year. Contributory Parent Visa Composite Index more than zero (3) If the Contributory Parent Visa Composite Index for the later financial year is more than zero, the charge limit for that financial year is the amount worked out using the following formula, then rounded under subsection (4): Image unavailable in extracted textwhere:

previous charge limit means the charge limit for the financial year before the later financial year.

(4) If an amount worked out under the formula in subsection (3) is not a multiple of $5, the amount is to be rounded as follows: (a) if the amount exceeds the nearest lower multiple of $5 by $2.50 or more—round the amount up to the nearest higher multiple of $5; (b) in any other case—round the amount down to the nearest lower multiple of $5. Contributory Parent Visa Composite Index zero or less (5) If the Contributory Parent Visa Composite Index for the later financial year is zero or less, the charge limit for the later financial year is the same as the charge limit for the financial year before the later financial year.