Source document: https://docs-lawep.s3.us-east-2.amazonaws.com/1698750098388.pdf (New Zealand)
Reprint as at 6 November 2008 Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 2001 (SR 2001/16) Accident Insurance (Indexation of Maximum Weekly Compensation) Regula­ tions 2001: revoked, on 6 November 2008, by clause 3 of the Regulations Revo­ cation Order 2008 (SR 2008/367).

Pursuant to section 404 of the Accident Insurance Act 1998, His Ex­ cellency the Governor­General, acting on the advice and with the consent of the Executive Council, makes the following regulations.
Contents 1 2 3 4 Title Commencement Interpretation Formula for indexation of amount of maximum weekly compensation Page 2 2 2 2 Note Changes authorised by section 17C of the Acts and Regulations Publication Act 1989 have been made in this eprint.

A general outline of these changes is set out in the notes at the end of this eprint, together with other explanatory material about this eprint.

These regulations are administered in the Department of Labour.
1 r 1 1 2 3 Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 2001 Reprinted as at 6 November 2008 Title These regulations are the Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 2001.

Commencement These regulations come into force on 1 April 2001.
Interpretation In these regulations, unless the context otherwise requires,— Act means the Accident Insurance Act 1998 Labour Cost Index means the Labour Cost Index All (Indus­ try or Occupation) Groups Combined, All Sectors Combined, Total Wage and Salary Rates published from time to time by Statistics New Zealand 2000 regulations means the Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 2000 (SR 2000/32).
4 (1) (2) Formula for indexation of amount of maximum weekly compensation The insurer must adjust the amount of $1,319.93 that, at 31 March 2001, is speciﬁed under clause 21(1) of Schedule 1 of the Act (as adjusted by regulation 4 of the 2000 regulations), in accordance with the formula in subclause (2).
The formula has the following steps: (a) ﬁrst,— a — = c b where— a is 1129, which is the Labour Cost Index for the June 2000 quarter is 1111, which is the Labour Cost Index for the June 1999 quarter is 1.0162, which is the result of the division worked out to 4 decimal places; and b c 2 Reprinted as at 6 November 2008 Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 2001 (b) second,— c x d = e where— c d e (c) third, $1,341.31.
is 1.0162 is $1,319.93, which is the amount that, at 31 March 2001, is speciﬁed under clause 21(1) of Schedule 1 of the Act (as adjusted by regulation 4 of the 2000 regulations) is $1,341.313, which is the result of the multipli­ cation worked out to 3 decimal places; and round e down to the nearest cent to give (3) The insurer must apply the adjusted amount of $1,341.31 to payments of weekly compensation for loss of earnings made on and after 1 April 2001.

Marie Shroff, Clerk of the Executive Council.


Explanatory note This note is not part of the regulations, but is intended to indicate their general effect.

These regulations relate to section 102 of the Accident Insurance Act 1998.

They prescribe the formula that applies when adjusting the maximum amount of weekly compensation for loss of earnings spe­ ciﬁed in clause 21(1) of Schedule 1 of the Act.
The maximum amount currently speciﬁed under that clause (fol­ lowing adjustment under the Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 2000) is $1,319.93 a week.

On and after 1 April 2001 the maximum amount will be $1,341.31 a week.

Issued under the authority of the Acts and Regulations Publication Act 1989.

Date of notiﬁcation in Gazette: 1 March 2001.


3 Notes Accident Insurance (Indexation of Maximum Weekly Compensation) Regulations 2001 Reprinted as at 6 November 2008 Contents 1 2 3 General About this eprint List of amendments incorporated in this eprint (most recent ﬁrst) General This is an eprint of the Accident Insurance (Indexation of It Maximum Weekly Compensation) Regulations 2001. incorporates all the amendments to the regulations as at 6 November 2008.
The list of amendments at the end of these notes speciﬁes all the amendments incorporated into this eprint since 3 September 2007.

Relevant provisions of any amending enactments that contain transitional, savings, or application provisions are also included, after the Principal enactment, in chronological order.

About this eprint This eprint has not been ofﬁcialised.
For more information about ofﬁcialisation, please see “Making online legislation of­ ﬁcial” under “Status of legislation on this site” in the About section of this website.

List of amendments incorporated in this eprint (most recent ﬁrst) Regulations Revocation Order 2008 (SR 2008/367): clause 3 Notes 1 2 3 4