This note is not part of the regulations, but is intended to indicate their general effect.
These regulations, which come into force on 1 July 2004, relate to sections 115 and 342 of the Injury Prevention, Rehabilitation, and Compensation Act 2001. They prescribe the formula that applies when adjusting the maximum amount of weekly compensation for loss of earnings specified in clause 46(1) of Schedule 1 of that Act or the corresponding amount under the Accident Insurance Act 1998.
The maximum amount currently specified in clause 46(1) (and under the corresponding provision in the Accident Insurance Act 1998) as adjusted by the Injury Prevention, Rehabilitation, and Compensation (Indexation of Maximum Weekly Compensation) Regulations 2003 is $1,418.29 a week. On and after 1 July 2004, the maximum amount will be $1,449.63 a week.