Document ID: chunk:federal_register_of_legislation:C2024C00866:section:198d:p2
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 198D (pt 2/3)
Character Range: 1836930–1839211

or other applications of this section, this Act has had effect as if another rate was substituted, or other rates were successively substituted, for the relevant rate—the substituted rate or the last substituted rate, as the case may be; or
 (b) where the rate worked out under paragraph (a) is not a multiple of 10 cents per fortnight—a rate equal to:
 (i) if the rate so worked out exceeds the next lower rate that is such a multiple of 5 cents per fortnight or more—the next highest rate that is such a multiple; or
 (ii) if the rate so worked out exceeds the next lower rate that is such a multiple by less than 5 cents per fortnight—that next lower rate.
 (5) The factor to be worked out for the purposes of subsection (4) in relation to a year to which this section applies is:
 (a) in relation to the year commencing on 20 September 1991—the number, calculated to 3 decimal places, worked out by dividing the index number for the June quarter 1991 by the index number for the June quarter 1990; or
 (b) in relation to each subsequent year—the number calculated to 3 decimal places, worked out by dividing the index number for the last preceding June quarter by the highest index number in respect of an earlier June quarter, not being a June quarter that occurred before 1991; or
 (c) if the number worked out under paragraph (a) or (b) would, if it were calculated to 4 decimal places, end in a number greater than 4—the number so worked out increased by 0.001; or
 (d) if:
 (i) the year commences on or after 20 September 2013; and
 (ii) the factor is for multiplying a rate specified in item 7, 8, 9, 10, 11, 12, 13, 14 or 15 in the table in subsection 27(1); and
 (iii) the brought‑forward CPI indexation amount for the year is more than 0;
  the number worked out under paragraph (b) or (c) of this subsection reduced by that amount, but not below 1.
 (6) Where, because of the application of this section, this Act has effect as if another rate were substituted for a relevant rate on the first day of a year to which this section applies, the substitution, in so far as it effects instalments of pensions and allowances under this Act, has effect in relation to every instalment of such a pension or an allowance that falls due on or after the first day of that year.