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Safety, Rehabilitation and Compensation and Other Legislation Amendment Bill 2007

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5194

2004-2005-2006-2007

 

The Parliament of the

Commonwealth of Australia

 

THE SENATE

 

 

 

Safety, Rehabilitation and Compensation and Other Legislation Amendment Bill 2006

 

 

(1)     Schedule 1, item 47, page 17 (line 24), after “rate”, insert “and the formula for determining the rate”.

[formula for determining rate to be specified and published]

(2)           Schedule 1, page 17 (after line 26), after item 47, insert:

47A  Rate to be applied since 1994

(1)       The Minister must specify a rate according to a formula in an instrument made under subsection 21(5) of the Safety, Rehabilitation and Compensation Act 1988 to apply to all eligible claimants since 1994.

(2)       The Minister must apply the formula mentioned in subitem (1) to each year since 1994 to determine a rate to be applied (the catch-up rate ) for each of those years.

(3)       The difference between the rate already paid and the catch-up rate is now due and payable as compensation to all eligible claimants since 1994.

[catch-up rate for eligible claimants]