Commonwealth legislation

Safety, Rehabilitation and Compensation (Rate of Interest Payable) Notice 2005 (1)

RepealedCTH

This Act has been repealed and is no longer in force. It is retained for historical reference.

Jurisdiction

Commonwealth

Collection

legislative instrument

Plain English Summary

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This Notice sets the interest rate for payments under the Safety, Rehabilitation and Compensation Act 1988 by specifying the weighted‑average yield of 90‑day bank‑accepted bills published by the Reserve Bank of Australia, affecting Commonwealth employees, Comcare‑covered employers, and the Commonwealth when interest is payable.

Linking the rate to the RBA bank‑bill yield ties compensation interest to current market conditions, determining how much interest accumulates on delayed payments or lump‑sum calculations.

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Direct links to the current provisions in Safety, Rehabilitation and Compensation (Rate of Interest Payable) Notice 2005 (1).

Safety, Rehabilitation and Compensation (Rate of Interest Payable) Notice 2005 (1)

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Safety, Rehabilitation and Compensation (Rate of Interest Payable) Notice 2005 (1)

Notice No. 1 of 2005.

I, KEVIN JAMES ANDREWS, Minister for Employment and Workplace Relations, make this Notice under subsection 26(3) of the Safety, Rehabilitation and Compensation Act 1988.

Dated 2nd December 2005

KEVIN ANDREWS

Minister for Employment and Workplace Relations

1 Name of Notice

This Notice is the Safety, Rehabilitation and Compensation (Rate of Interest Payable) Notice 2005 (1).

2 Commencement

This Notice commences on registration on the Federal Register of Legislative Instruments (FRLI).

3 Declaration

For subsection 26(3) of the Safety, Rehabilitation and Compensation Act 1988 (the Act), I declare that the rate of interest payable is the weighted average yield of 90 day bank-accepted bills, as published by the Reserve Bank of Australia, settled immediately prior to the last day of the thirty day settlement period.

Source text

Sourced from the Federal Register of Legislation (legislation.gov.au), CC BY 4.0.

1 Safety, Rehabilitation and Compensation (Rate of Interest Payable) Notice 2005 (1)

Safety, Rehabilitation and Compensation (Rate of Interest Payable) Notice 2005 (1)

Notice No. 1 of 2005.

I, KEVIN JAMES ANDREWS, Minister for Employment and Workplace Relations, make this Notice under subsection 26(3) of the Safety, Rehabilitation and Compensation Act 1988.

Dated 2nd December 2005

KEVIN ANDREWS

Minister for Employment and Workplace Relations

1 Name of Notice

This Notice is the Safety, Rehabilitation and Compensation (Rate of Interest Payable) Notice 2005 (1).

2 Commencement

This Notice commences on registration on the Federal Register of Legislative Instruments (FRLI).

3 Declaration