RETAIL PRICE INDEX ACT 1983

[Consolidation as at 20 August 2013

on the authority of the Administrator

and in accordance with

the Enactments Reprinting Act 1980]

TABLE OF PROVISIONS

            1.         Short title

            2.         Retail price index number

3.                  Benefit adjustment factor

Retail Price Index Act 1983

Relating to the Retail Price Index.

Short title

      1.      This Act may be cited as the Retail Price Index Act 1983.

Retail price index

      2.      (1)        The Minister shall ensure that a retail price index, designed by a statistician qualified and experienced in prices statistics, is compiled for each period ending on the last day of March, June, September and December.

               (2)        The Minister shall publish in the Gazette the retail price index number for a period referred to in subsection 2(1) as soon as practicable after it is compiled.

Benefit adjustment factor

      3.      (1)        The Minister shall ensure that a benefit adjustment factor, designed by a statistician qualified and experienced in price statistics, is compiled for the period of 6 months ending on 31 December 1993 and each subsequent period of 6 months.

               (2)        The benefit adjustment factor is a factor, expressed to 3 decimal places, for use in adjusting benefits under the Social Services Act 1980 to compensate for changes in the level of retail prices of items relevant to the normal purchasing patterns of persons receiving those benefits.

               (3)        The Minister shall publish the benefit adjustment factor in the Gazette as soon as practicable after the end of the period to which it refers.

               (4)        Where a benefit adjustment factor is 1.000 or less, no adjustment of benefits referred to in subsection 3(2) shall be made.

               (5)        Notwithstanding section 29 of the Social Services Act 1980, but subject to subsection 3(4) of this section, the rates of benefit payable under that Act shall, after publication of a benefit adjustment factor under subsection 3(3), be adjusted by multiplying the current pension rates by the benefit adjustment factor.

               (6)        Where a new rate of benefit referred to in subsection 3(5) is not a multiple of 10 cents per fortnight, the amount of the benefit that is to be paid under subsection 3(5) is —

(a)        where the rate of benefit exceeds by 5 cents or more the next lower amount that is  a multiple of 10 cents - the next higher amount per fortnight that is a multiple of 10 cents; or

(b)               in any other case - the lower multiple of 10 cents.

NOTES

The Retail Price Index Act 1983 as shown in this consolidation comprises Act No. 15 of 1984 and amendments as indicated in the Tables below.

Table of Amendments

© Norfolk Island Government 2013

The Copyright Act 1968 of the Commonwealth of Australia permits certain reproduction and publication of this legislation. For reproduction or publication beyond that permitted by the Act, written permission must be sought from the Legislative Counsel, Administration of Norfolk Island, Norfolk Island, South Pacific 2899.