Section 116 — Injury Prevention, Rehabilitation, and Compensation Act 2001: Indexation of lump sum compensation, funeral grant, survivor's grant, and child care payments

116 Indexation of lump sum compensation, funeral grant, survivor's grant, and child care payments (1) The Corporation must adjust the amounts specified in clauses 56 , 64 , 65 , and 76 of Schedule 1 in the manner specified in subsection (2) . (2) Any adjustments required by subsection (1) must— (a) be in accordance with a prescribed formula or prescribed formulas relating to movements in the Consumer Price Index; 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 Consumer Price Index; and (b) the movement in the Consumer Price Index is less than the minimum movement specified. Compare: 1998 No 114 s 103