Commonwealth legislation

Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2016

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This Act has been repealed and is no longer in force. It is retained for historical reference.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

1/10 complexity

This notice, under the Safety, Rehabilitation and Compensation Act 1988, temporarily set the interest rate used to calculate lump-sum redemptions of weekly workers’ compensation at 2.72% p.a. for Commonwealth employees (and some former employees) who converted benefits between 1 July 2016 and 30 June 2017. It determined the amount those claimants received and expired on 30 June 2017.

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Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2016

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Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2016

I, MICHAELIA CASH, Minister for Employment, make this Notice under subsection 21(5) of the Safety, Rehabilitation and Compensation Act 1988.

Dated 27 June 2016

Michaelia Cash

Minister for Employment

1. Name of Notice

This Notice is the Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2016.

2. Commencement

This Notice commences on 1 July 2016.

3. Cessation

This Notice ceases to have effect after 30 June 2017.

4. Specification

For subsection 21(5) of the Safety, Rehabilitation and Compensation Act 1988, I specify that the rate of ‘weekly interest on the lump sum’ is 2.72 per cent per annum.

Source text

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

meta-content-style-type: text/css meta-content-type: application/xhtml+xml; charset=utf-8 meta-generator: Aspose.Words for .NET 20.2

?xml version="1.0" encoding="utf-8" standalone="no"?>

Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2016

I, MICHAELIA CASH, Minister for Employment, make this Notice under subsection 21(5) of the Safety, Rehabilitation and Compensation Act 1988.

Dated 27 June 2016

Michaelia Cash

Minister for Employment

1. Name of Notice

This Notice is the Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2016.

2. Commencement

This Notice commences on 1 July 2016.

3. Cessation

This Notice ceases to have effect after 30 June 2017.

4. Specification

For subsection 21(5) of the Safety, Rehabilitation and Compensation Act 1988, I specify that the rate of ‘weekly interest on the lump sum’ is 2.72 per cent per annum.