Australian Government

Safety, Rehabilitation and Compensation (Defence-related Claims) (Weekly Interest on the Lump Sum) Notice 2021

Instrument 2021 No. M5

I, Darren Chester, Minister for Veterans’ Affairs, make the following legislative instrument under subsection 21(5) of the Safety, Rehabilitation and Compensation (Defence-related Claims) Act 1988.

Dated this          31st                day of              May              2021.

1  Name

This instrument is the Safety, Rehabilitation and Compensation (Defence-related Claims) (Weekly Interest on the Lump Sum) Notice 2021.

2  Commencement

This instrument is taken to have commenced on 1 July 2021.

3  Revocation

This instrument is revoked on 30 June 2022.

4  Authority

This instrument is made under subsection 21(5) of the Safety, Rehabilitation and Compensation (Defence-related Claims) Act 1988 (the Act).

5  Specified rate of interest

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 1.01 per cent per annum is specified as the rate that applies for the period of 12 months that commences on 1 July 2021.