Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) Where:
(a) the Commonwealth is liable to make weekly payments under section 19, 20, 21 or 21A to an employee in respect of an injury resulting in an incapacity;
(b) the amount of those payments is $50 per week or less; and
(c) the MRCC is satisfied that the degree of the employee's incapacity is unlikely to change;
the MRCC must make a determination that the liability of the Commonwealth to make further payments to the employee under that section be redeemed by the payment to the employee of a lump sum.
(2) The amount of the lump sum is the amount worked out using the formula:
(3) For the purposes of subsection (2):
"amount per week" means the amount per week payable to the employee under section 19, 20, 21 or 21A, as the case may be, at the date of the determination.
"specified number" means the number specified by the Minister.
"n" means the number worked out using the formula:
where:
"number of days" means the number of days in the period beginning on the day after the day on which the determination is made and ending:
(a) if the employee is injured before reaching the age that is 2 years before pension age--on the day immediately before the day on which the employee reaches pension age; and
(b) if the employee is injured on or after reaching the age that is 2 years before pension age--on the day immediately before the employee would cease to be entitled to receive compensation under section 19, 20, 21 or 21A of this Act.
(4) The Minister may, from time to time, by legislative instrument, specify a number (being a specification of the number in decimal notation) for the purposes of subsection (2).