Document ID: chunk:federal_register_of_legislation:F2024C01169:reg:15
Version: federal_register_of_legislation:F2024C01169
Segment Type: reg
Provision Reference: reg 15
Character Range: 9587–10822

15  Conversion of amounts payable under registrable maintenance liabilities
 (1) This section is made for the purposes of section 29 of the Act.
 (2) For the conversion of amounts payable under a registrable maintenance liability that are quantified by reference to a period, or a multiple of a period, specified in the following table into a rate of payment quantified by reference to another such period, or a multiple of such period, those periods are taken to comprise the number of days respectively specified in the table.

Conversion of amounts payable under registrable maintenance liabilities
Period                                                                   Number of days in the period
Week                                                                     7
Fortnight                                                                14
4 weeks                                                                  28
Month                                                                    30.4375
Year                                                                     365.25

 (3) In calculating a conversion, the daily rate is to be rounded to 5 decimal places (rounding up if the sixth decimal place is 5 or more).