Injury Prevention, Rehabilitation, and Compensation (Indexation of Maximum Weekly Compensation) Regulations 2004
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Version as at 1 September 2022
Injury Prevention, Rehabilitation, and Compensation (Indexation of Maximum Weekly Compensation) Regulations 2004
(SR 2004/187)
Dame Sian Elias, Administrator of the Government
Order in Council
At Wellington this 21st day of June 2004
Present:
Her Excellency the Administrator of the Government in Council
Note
The Parliamentary Counsel Office has made editorial and format changes to this version using the powers under subpart 2 of Part 3 of the Legislation Act 2019.
Note 4 at the end of this version provides a list of the amendments included in it.
These regulations are administered by the Ministry of Business, Innovation, and Employment.
Pursuant to section 327 and 342(2) of the Injury Prevention, Rehabilitation, and Compensation Act 2001, Her Excellency the Administrator of the Government, acting on the advice and with the consent of the Executive Council, makes the following regulations.
Regulations
1 Title
These regulations are the Injury Prevention, Rehabilitation, and Compensation (Indexation of Maximum Weekly Compensation) Regulations 2004.
2 Commencement
These regulations come into force on 1 July 2004.
3 Interpretation
In these regulations, unless the context otherwise requires,—
1998 Act means the Accident Insurance Act 1998
2001 Act means the Injury Prevention, Rehabilitation, and Compensation Act 2001
2003 regulations means the Injury Prevention, Rehabilitation, and Compensation (Indexation of Maximum Weekly Compensation) Regulations 2003 (SR 2003/122)
insurer has the same meaning as in section 341(1) of the 2001 Act
Labour Cost Index means the Labour Cost Index All Salary and Wage Rates (including overtime), all industries and sectors combined published by Statistics New Zealand or, if that index ceases to be published, any measure certified by the Government Statistician as being equivalent to that index.
Regulation 3 Labour Cost Index: replaced, on 1 September 2022, by section 107(1) of the Data and Statistics Act 2022 (2022 No 39).
4 Formula for indexation of amount of maximum weekly compensation
(1)
The Corporation or the insurer (as the case may be) must adjust the amount of $1,418.29, which is the amount specified in clause 46(1) of Schedule 1 of the 2001 Act (as adjusted by regulation 4 of the 2003 regulations), and the amount of $1,418.29 specified under clause 21(1) of Schedule 1 of the 1998 Act (as adjusted by regulation 4 of the 2003 regulations), in accordance with the formula in subclause (2).
(2)
The formula has the following steps:
(a)
first,—
(a).JPG)
where—
- a
is 1062, which is the Labour Cost Index for the March 2004 quarter
- b
is 1039, which is the Labour Cost Index for the March 2003 quarter
- c
is 1.0221, which is the result of the division worked out to 4 decimal places; and
(b)
second,—
c × d = e
where—
- c
is 1.0221
- d
is $1,418.29, which is the amount specified in clause 46(1) of Schedule 1 of the 2001 Act (as adjusted by regulation 4 of the 2003 regulations) or (as the case may be) the amount specified under clause 21(1) of Schedule 1 of the 1998 Act (as adjusted by regulation 4 of the 2003 regulations)
- e
is $1,449.6342, which is the result of the multiplication worked out to 4 decimal places; and
(c)
third, e is rounded down to the nearest cent to give $1,449.63.
(3)
The Corporation or the insurer (as the case may be) must apply the adjusted amount of $1,449.63 to payments of weekly compensation for loss of earnings made on and after 1 July 2004.
5 Revocations
The following regulations are revoked:
(a)
the Injury Prevention, Rehabilitation, and Compensation (Indexation of Maximum Weekly Compensation) Regulations 2003 (SR 2003/122):
(b)
the Injury Prevention, Rehabilitation, and Compensation (Indexation of Maximum Weekly Compensation) Regulations 2002 (SR 2002/23).
Diane Morcom,
Clerk of the Executive Council.
Date of notification in Gazette: 24 June 2004.
Notes
1 General
This is a consolidation of the Injury Prevention, Rehabilitation, and Compensation (Indexation of Maximum Weekly Compensation) Regulations 2004 that incorporates the amendments made to the legislation so that it shows the law as at its stated date.
2 Legal status
A consolidation is taken to correctly state, as at its stated date, the law enacted or made by the legislation consolidated and by the amendments. This presumption applies unless the contrary is shown.
Section 78 of the Legislation Act 2019 provides that this consolidation, published as an electronic version, is an official version. A printed version of legislation that is produced directly from this official electronic version is also an official version.
3 Editorial and format changes
The Parliamentary Counsel Office makes editorial and format changes to consolidations using the powers under subpart 2 of Part 3 of the Legislation Act 2019. See also PCO editorial conventions for consolidations.
4 Amendments incorporated in this consolidation
Data and Statistics Act 2022 (2022 No 39): section 107(1)
Versions
Injury Prevention, Rehabilitation, and Compensation (Indexation of Maximum Weekly Compensation) Regulations 2004
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