Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2020
I, Christian Porter, Minister for Industrial Relations, make the following instrument.
Dated 17 June 2020
CHRISTIAN PORTER
Minister for Industrial Relations
Contents
1 Name........................................................................................................................................ 3
2 Commencement........................................................................................................................ 3
3 Authority.................................................................................................................................. 3
4 Definitions................................................................................................................................ 3
5 Schedule................................................................................................................................... 3
6 Specified rate............................................................................................................................ 3
Schedule 1—Repeals 4
1 Name
This instrument is the Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2020.
2 Commencement
This instrument commences on 1 July 2020.
3 Authority
This instrument is made under subsection 21(5) of the Safety, Rehabilitation and Compensation Act 1988.
4 Definitions
In this instrument:
Act means the Safety, Rehabilitation and Compensation Act 1988.
5 Schedule
Each instrument that is specified in Schedule 1 to this instrument is amended or repealed as set out in the applicable items in that Schedule, and any other item in that Schedule has effect according to its terms.
6 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 1.21 per cent per annum is specified for the period from 1 July 2020 to 30 June 2021.
Schedule 1—Repeals
Safety, Rehabilitation and Compensation (Weekly Interest on the Lump Sum) Instrument 2019
Note: See section 5.
1 The whole of the instrument
Repeal the instrument.