Budget Savings (Omnibus) Act 2016 (55 of 2016)

Schedule 2   Indexation of higher education support amounts

Higher Education Support Act 2003

3   Section 198-20

Repeal the section, substitute:

198-20 Meaning of index number

(1) The index number for a *quarter is the All Groups Consumer Price Index number (being the weighted average of the 8 capital cities) published by the *Australian Statistician in respect of that quarter.

(2) Subject to subsection (3), if, at any time before or after the commencement of this subsection:

(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 section.

(3) If, at any time before or after the commencement of this subsection, the *Australian Statistician has changed or changes the index reference period for the Consumer Price Index, then, for the purposes of applying this section after the change took place or takes place, have regard only to *index numbers published in terms of the new index reference period.