Indexation of civil and criminal penalty amounts
13A Indexation of civil and criminal penalty amounts
For the purposes of clauses 47A and 47B of Schedule 2 to the NGL, each civil penalty amount and criminal penalty amount is to be adjusted in accordance with the following formula —
where —
P is the amount that applies on and from the date of the adjustment;
Pc is the amount that applied immediately before the first adjustment;
A is —
for the 1st adjustment — the sum of the index numbers for the 4 quarters in the 2022 calendar year; and
for each subsequent adjustment — the sum of the index numbers for the 4 quarters in the calendar year that ended most recently before the date of the adjustment;
B is the sum of the index numbers for the 4 quarters in the 2019 calendar year;
is calculated to the nearest 3 decimal places (and a 4th decimal place of 5 is to be rounded up).
An amount adjusted under this regulation is to be rounded up or down as follows —
in the case of an amount that is $10 000 or greater — to the nearest multiple of $100 (with an amount of $50 rounded up);
in the case of an amount that is less than $10 000 — to the nearest multiple of $10 (with an amount of $5 rounded up).
If an amount adjusted under this regulation is less than the amount that applied immediately before the adjustment, the amount that applied immediately before the adjustment applies instead.
In this regulation —
index number, for a quarter, means —
the All Groups Consumer Price Index number that is the weighted average of the 8 capital cities and is published by the Australian Statistician for that quarter; or
if the Australian Statistician fails or ceases to publish that Index, another index number determined by the MCE for that quarter.
[Regulation 13A inserted: SL 2024/185 r. 6.]
The statute text is free to read above. View Pro plans to unlock the case-law research tools for each provision.