Document ID: chunk:federal_register_of_legislation:C2006A00013:clause:1_1
Version: federal_register_of_legislation:C2006A00013
Segment Type: clause
Provision Reference: sch 1 cl 1
Character Range: 4302–5067

1  Subsection 707‑320(4)
Repeal the subsection, substitute:

 (4) For a *bundle of losses:
 (a) subject to paragraph (b)—the available fraction is worked out to 3 decimal places, rounding up if the fourth decimal place is 5 or more; or
 (b) if the available fraction worked out under paragraph (a) is 0.000 and, if it were worked out to more decimal places, it would include one or more non‑zero digits—the available fraction is worked out to the number of decimal places that includes the first or only such digit, rounding up if the next decimal place is 5 or more.

                  Examples: For 0.000328, the available fraction is 0.0003. For 0.000086, the available fraction is 0.00009.

 (4A) Subsections (1) and (2) have effect subject to subsection (4).