These regulations are the Injury Prevention, Rehabilitation, and Compensation (Interim Indexation of Weekly Abatement Amounts) Regulations 2002.

These regulations come into force on 1 April 2002.

In these regulations, unless the context otherwise requires,—

The weekly amounts specified in clause 51(1) of Schedule 1 of the Act must be adjusted on the date of indexation in accordance with the formula in regulation 5(1).

(1) The formula for calculation of an adjustment under regulation 4 is—

where—

• a is the relevant amount at the date of indexation, before the amount is adjusted

• b is the Labour Cost Index for the March quarter immediately prior to 1 July 2001

• c is the Labour Cost Index for the March quarter prior to the quarter referred to in item b.

(2) The number resulting from dividing b by c must be rounded up or down to 4 decimal places (with .00005 or greater being rounded up).

An adjustment under regulation 5 to the weekly amounts specified in clause 51(1) of Schedule 1 of the Act applies in respect of any period of incapacity occurring on or after the date of indexation.

The result of any adjustment arising from a calculation under these regulations must be rounded to the nearest cent as follows:

• (a) an amount of less than 0.5 cents must be rounded down:

• (b) an amount of 0.5 cents or more than 0.5 cents must be rounded up.