49Calculation of adjustment percentage

49 Calculation of adjustment percentage

49 Calculation of adjustment percentage

(1) For the purposes of the definition of adjustment percentage in clause 47 (1), the percentage for an adjustment period is to be calculated—

(a) if, in relation to the adjustment period beginning on 1 January 1989, the index number for the June quarter in that period was greater than the index number for the immediately preceding December quarter or, if in relation to the adjustment period beginning on 1 July 1989 or 1 July in any subsequent year, the index number for the June quarter was greater than the index number for the immediately preceding June quarter—in accordance with the following formula—

(b) if, in relation to the adjustment period beginning on 1 January 1989, the index number for the June quarter in that period was less than the index number for the immediately preceding December quarter or, if in relation to the adjustment period beginning on 1 July 1989 or 1 July in any subsequent year, the index number for the June quarter was less than the index number for the immediately preceding June quarter—in accordance with the following formula—

where, in the case of either formula—

P represents the percentage to be obtained, and

C represents the index number for the June quarter in the adjustment period concerned, and

L represents the index number for the immediately preceding December quarter or the immediately preceding June quarter, as the case requires.

(2) There is to be no adjustment percentage for an adjustment period if—

(a) the percentage calculated for a year in accordance with subclause (1) (b) is less than 1.1%, or

(b) the Index number for the June quarter in that year is the same as the Index number for the immediately preceding June quarter.

(3) If there is to be no adjustment percentage for an adjustment period, then, for the purposes of calculating the percentage for the next adjustment period—

(a) the index number for the June quarter in the first-mentioned period is to be taken to have not been published, and