Safety, Rehabilitation and Compensation
(Weekly Interest on the Lump Sum) Instrument 2018
I, CRAIG LAUNDY, Minister for Small and Family Business, the Workplace and Deregulation, make the following instrument.
Dated 18 June 2018
CRAIG LAUNDY
Minister for Small and Family Business, the Workplace and Deregulation
1 Name
This is the Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2018.
2 Commencement
This instrument commences on 1 July 2018.
3 Authority
This instrument is made under subsection 21(5) of the Act.
4 Definitions
In this instrument:
Act means the Safety, Rehabilitation and Compensation Act 1988.
5 Specified rate
For the purposes of the definition of weekly interest on the lump sum in
subsections 21(3) and 21A(3) of the Act, the rate of 2.64 per cent per annum is specified for the period from 1 July 2018 to 30 June 2019.
6 Repeals
Each instrument that is specified in Schedule 1 to this instrument is repealed as set out in the applicable items in that Schedule.
Schedule 1—Repeals
Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2017
1. The whole of the instrument
Repeal the instrument.
Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2016
2. The whole of the instrument
Repeal the instrument.
Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2015
3. The whole of the instrument
Repeal the instrument.
Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2014
4. The whole of the instrument
Repeal the instrument.
Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2013
5. The whole of the instrument
Repeal the instrument.
Schedule 2—Prior Specifications
1. Prior to the commencement of this instrument, for the purposes of the definition of weekly interest on the lump sum in subsections 21(3) and 21A(3) of the Act, the specified rate for the period specified in column 1 of an item, was the rate specified in column 2 of that item by the instrument specified in column 3 of that item.
| | Column 1 | Column 2 | Column 3 |
| Item | Period | Specified Rate | Instrument |
| 1 | 1 July 2017 to 30 June 2018 | 2.37% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2017 (F2017L00698) |
| 2 | 1 July 2016 to 30 June 2017 | 2.72% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2016 (F2016L01104) |
| 3 | 1 July 2015 to 30 June 2016 | 3.26% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2015 (F2015L00855) |
| 4 | 1 July 2014 to 30 June 2015 | 3.86% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2014 (F2014L00680) |
| 5 | 1 July 2013 to 30 June 2014 | 3.24% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2013(1) (F2013L01258) |
| 6 | 1 July 2012 to 30 June 2013 | 4.48% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2012 (1) (F2012L01263) |
| 7 | 1 July 2011 to 30 June 2012 | 5.35% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2011 (1) (F2011L01282) |
| 8 | 1 July 2010 to 30 June 2011 | 5.38% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2010 (F2010L01739) |
| 9 | 1 July 2009 to 30 June 2010 | 5.35% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2009 (F2009L02161) |
| 10 | 1 July 2008 to 30 June 2009 | 6.08% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2008 (2) (F2008L02336) |
| 11 | 1 July 2007 to 30 June 2008 | 5.72% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2007(2) (F2007L01142) |
| 12 | 27 April 2007 to 30 June 2007 | 5.72% | Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Notice 2007 (1) (F2007L01141) |