Section 115 — Injury Prevention, Rehabilitation, and Compensation Act 2001: Indexation of weekly compensation and related amounts

115 Indexation of weekly compensation and related amounts (1) The Corporation must adjust the following amounts in the manner specified in subsection (2) : (a) the amount of weekly compensation, but not weekly compensation based on minimum weekly earnings as determined under clause 42(3) of Schedule 1: (b) the weekly amounts specified in clauses 46 and 51 of Schedule 1. (2) Any adjustments required by subsection (1) — (a) must be in accordance with a prescribed formula or prescribed formulas relating to movements in average weekly earnings; and (b) have effect from the prescribed date or dates; and (c) must be published by the Corporation in such manner as it thinks appropriate to bring the adjustments to the attention of claimants and the general public. (3) The Corporation is not required to adjust any amount under subsection (1) if— (a) the prescribed formula specifies a minimum movement in the average weekly earnings; and (b) the movement in the average weekly earnings is less than the minimum movement specified. Compare: 1998 No 114 s 102