Document ID: chunk:federal_register_of_legislation:F2022C00092:reg:3b
Version: federal_register_of_legislation:F2022C00092
Segment Type: reg
Provision Reference: reg 3B
Character Range: 5888–7540

3B  Indexation of fees
 (1) This regulation is made for the purposes of subsection 32(7) of the Act.
 (2) If the indexation factor for an indexation day is greater than 1, the amount of a fee specified in clause 1 or 2 of Schedule 1 is, on that day, replaced by the amount worked out using the formula:
 (3) The amount worked out under subregulation (2) is to be rounded to the nearest dollar (rounding 50 cents upwards).

Indexation factor
 (4) The indexation factor for an indexation day is the number worked out using the formula:

where:
base March quarter means the last March quarter before the reference March quarter.
reference March quarter means the last March quarter before the indexation day.
 (5) The indexation factor is to be worked out to 3 decimal places (rounding up if the fourth decimal place is 5 or more).

Index numbers
 (6) Subject to subregulation (7), if at any time before or after the commencement of this subregulation:
 (a) the Australian Statistician has published or publishes an index number in respect of a quarter; and
 (b) that index number is in substitution for an index number previously published by the Australian Statistician in respect of that quarter;
disregard the publication of the later index number for the purposes of this regulation.
 (7) If, at any time before or after the commencement of this regulation, the Australian Statistician has changed or changes the index reference period for the Consumer Price Index, then, for the purposes of applying this regulation after the change took place or takes place, have regard only to index numbers published in terms of the new index reference period.