Save Search

Note: Where available, the PDF/Word icon below is provided to view the complete and fully formatted document
  

Previous Fragment    Next Fragment
Wednesday, 5 March 1997
Page: 2062

Bill returned from the Senate with requested amendments.

Ordered that the requested amendments be taken into consideration forthwith.

Senate's requested amendments

(1)   Clause 3-3, page 6 (lines 19 to 28), omit subclause (4), substitute:

(4)   The maximum amount is:

   (a)   if at all times during the financial year the person covered by the policy is not a dependent child and is not the partner of another person—$35,000 adjusted, as appropriate, by the index number; or

   (b)   if at any time during the financial year the person covered by the policy is not a dependent child and is the partner of another person—$70,000 adjusted, as appropriate, by the index number; or

   (c)   if at any time during the financial year the person covered by the policy is a dependent child—$70,000 adjusted, as appropriate, by the index number.

   Note:   For dependent child , parent and partner , see the Dictionary.

      For index number , see section 3-6.

   (5)   For the purposes of subsection (4), adjustment of the maximum amount is determined by multiplying the sum specified by the index number (rounding down to the nearest whole dollar).

   Note:   For index number , see section 3-6.

(2)   Clause 3-4, page 7 (lines 21 to 31), omit subclause (4), substitute:

(4)   The maximum amount is:

   (a)   if the persons covered by the policy do not include 2 or more dependent children at any time during the financial year concerned—$70,000 adjusted, as appropriate, by the index number; or

   (b)   if, at any time during the financial year, 2 or more dependent children are covered by the policy—the amount worked out as follows:

$70,000, adjusted as appropriate by the index number+$3,000, adjusted as appropriate by the index (number X Number of dependent children - 1)

   Note:   For dependent child , parent and partner , see the Dictionary.

      For index number , see section 3-6.

   (5)   For the purposes of subsection (4), adjustment of the maximum amount is determined by multiplying the sum specified by the index number (rounding down to the nearest whole dollar).

   Note:   For index number , see section 3-6.

(3)   Page 8 (after line 12), at the end of Division 3, add:

3-6 Meaning of index number

In section 3-3 or 3-4:

   (1)   Index number , in relation to a maximum amount, means the number, calculated to 3 decimal places, worked out under the following formula:

                        average weekly earnings for the immediately preceding calendar year

                       

                        average weekly earnings for calendar year 1996

   (2)   For the purposes of subsection (1), average weekly earnings for a year of income is the number of dollars in the sum of:

      (a)   the average weekly earnings for all employees for the reference period in the December quarter immediately before the year of income, as published by the Australian Statistician; and

      (b)   the average weekly earnings for all employees for the reference period in each of the 3 quarters immediately before that December quarter, as published by the Australian Statistician.

   (3)   Subject to subsection (4), if at any time, whether before or after the commencement of this Part, the Australian Statistician has published or publishes an average total weekly earnings number in respect of a year in substitution for an average total weekly earnings number previously published by the Australian Statistician in respect of that year, the publication of the later number shall be disregarded for the purposes of sections 3-3 and 3-4.

   (4)   If at any time, whether before or after the commencement of this Part, the Australian Statistician has changed or changes the reference base for the average total weekly earnings, then, for the purposes of the application of sections 3-3 and 3-4 after the change took place or takes place, regard shall be had only to numbers published in terms of the new reference base.

Motion (by Dr Wooldridge) proposed:

That the requested amendments be not made.