Document ID: chunk:federal_register_of_legislation:F2016C00523:schedule:1:p3
Version: federal_register_of_legislation:F2016C00523
Segment Type: schedule
Provision Reference: sch 1 (pt 3/3)
Character Range: 24296–26387

and the expenditure for Year 8 is to be added to the total to derive the Combined Adjusted Expenditure for Years 2 – 8.
 (6) Fifth, for each adjustment factor, the following formula is to be applied –

where –
Combined Adjusted Expenditure for Years 2 – 8 – see subclause (5);
Combined Adjusted Expenditure for Years 1 – 7 – see subclause (3).
Note: Clause 3 varies the operation of this clause with respect to the calculation of RA and UA for the purposes of calculating the annual adjustment factor for the 2009 – 2010 financial year.
 (4) Lastly, the amount determined under subclause (6) is to be rounded up or down to 4 decimal places (rounding an amount of 0.00005 upwards).
Example: An amount of 2.35065 would be rounded up to 2.3507.
 (5) The result is the amount that is to be used for that adjustment factor in the formula in clause 1(2).

3.  Transitional provision in relation to the calculation of the annual adjustment factor for 2009 – 2010
 (1) Despite anything to the contrary in clause 2, for the purposes of calculating the annual adjustment factor for the 2009 – 2010 financial year, RA and UA are to be calculated by applying the following formula –

where –
amount of adjusted expenditure is the amount derived using the method set out in clause 2(2);
Combined Expenditure is the sum of the amounts of adjusted expenditure for the 2001 – 2002 (Year 1), 2002 – 2003 (Year 2), 2003 – 2004 (Year 3), 2004 – 2005 (Year 4), 2005 – 2006 (Year 5) and 2006 – 2007 (Year 6) financial years, and the amount of expenditure for the 2007 – 2008 (Year 7) financial year, based on the expenditure amounts set out in the annual report of the NTC for the 2007 – 2008 financial year, adjusted in the case of Years 1 – 6 using the index number for the 2007 – 2008 financial year as the numerator in the adjustment fraction;
Base Combined Expenditure is–
 (a) in the case of RA, $22,877,279,156;
 (b) in the case of UA, $22,628,161,494.
 (2) All terms defined in clause 2 that are used in this clause have the same meaning as they have in clause 2, unless a contrary intention appears.