Document ID: chunk:federal_register_of_legislation:C2024C00141:section:7
Version: federal_register_of_legislation:C2024C00141
Segment Type: section
Provision Reference: s 7
Character Range: 7256–7913

7  Indexation of fee cap
 (1) The amount referred to in subsection 6(3) is to be indexed on the first day of each financial year starting on or after 1 July 2024. The amount is indexed by multiplying it by its indexation factor.
 (2) If after indexation the amount is not a multiple of $100, round down the indexed amount to the nearest multiple of $100.
 (3) If the indexed amount worked out under subsection (1) for a financial year (the current year) (after any rounding under subsection (2)) is less than the indexed amount for the previous financial year, the indexed amount for the current year is the indexed amount for the previous financial year.