Document ID: chunk:federal_register_of_legislation:C2024C00866:section:198:p3
Version: federal_register_of_legislation:C2024C00866
Segment Type: section
Provision Reference: s 198 (pt 3/3)
Character Range: 1829620–1831029

were substituted, for the general rate, the rate worked out using the following formula and rounded up to the nearest $0.10:

Indexation of each above general rate
 (5E) This Act has effect as if, on each adjustment day, there were substituted, for each above general rate, the rate worked out using the following formula and rounded up to the nearest $0.10:

Indexation of rate in paragraph 30(1)(b)
 (8A) This Act has effect as if, on each adjustment day, there were substituted, for the rate in paragraph 30(1)(b), the rate worked out using the following formula and rounded up to the nearest $0.10:

Effect of indexation
 (10) Where, by virtue of the application of this section, this Act has effect as if another rate were substituted for a relevant rate or an above general rate on the first day of a relevant period, the substitution, in so far as it affects instalments of a pension under this Act, has effect in relation to every instalment of the pension that falls due on or after the first day of that period, as the case may be, but, if a pension is granted, or the rate of a pension is increased, after the first day of that period as from a date before the first day of that period, the substitution, in so far as it affects instalments of that pension, does not have effect in relation to an instalment of that pension in respect of a period that commenced before the first day of that period.