Government Prices Oversight (MAIB Premiums) Amendment Order 1999
I make the following order under section 36 of the Government Prices Oversight Act 1995 .
25 October 1999P. A. LENNON
Minister for Infrastructure, Energy and Resources
This order may be cited as the Government Prices Oversight (MAIB Premiums) Amendment Order 1999 .
This order takes effect on the day on which its making is notified in the Gazette.
In this order, the Government Prices Oversight (MAIB Premiums) Order 1997 is referred to as the Principal Order.
4. Clause 3 amended (Interpretation)
Clause 3(1) of the Principal Order is amended as follows:(a) by omitting "2.5%" from paragraph (f) of the definition of calculated percentage and substituting "7.5%";(b) by omitting "5%" from paragraph (g) of the definition of calculated percentage and substituting "10%";(c) by omitting "10%" from paragraph (h) of the definition of calculated percentage and substituting "15%".
5. Clause 6 amended (Maximum premium in third year)
Clause 6 of the Principal Order is amended by omitting paragraph (d) and substituting the following paragraph:(d) in respect of a category 4 motor vehicle is the sum, rounded to the nearest whole $1, of –(i) the premium that was payable immediately before the commencement day in respect of a motor vehicle of the same description and used for the same purpose as that motor vehicle; and(ii) 5% of that premium.
Displayed and numbered in accordance with the Rules Publication Act 1953.
Notified in the Gazette on 3 November 1999
This order is administered by the Motor Accidents Insurance Board.
EXPLANATORY NOTE
(This note is not part of the order)
This order increases Motor Accidents Insurance Board premiums by five per cent from 1 December 1999 to offset the financial implications of the Commonwealth Government's new tax system.