Section 47C — Veterans' Entitlements Act 1986: Re-assessed exchange rate

(1) If for 10 consecutive working days: (a) starting after a month of the year in relation to which section 47B operates; and (b) ending before the next month of the year in relation to which section 47B operates; the actual market exchange rate available differs, by at least 10%, from: (c) unless paragraph (d) applies—the base exchange rate for the next foreign exchange period; or (d) if a re-assessed exchange rate has already been worked out under this subsection for the purposes of the next foreign exchange period—the last re-assessed exchange rate so worked out; the re-assessed exchange rate for a foreign currency is the average (calculated to 4 decimal places) of the actual market exchange rates available on those consecutive working days. (2) Subsection (1) does not apply to a working day if the actual market exchange rate available on that day has been used to work out a re-assessed exchange rate in a previous application of that subsection.