(1) In section 3 of the Parliamentary Salaries and See: for the definition of Superannuation Act 1968, Act No. 7723. substitute— basic salary Reprint No. 10 as at "basic means— salary 10 September 2009 (a) in respect of the financial year and amending commencing 1 July 2013, the amount Act Nos of $140 973; 41/2007, 4/2009, (b) in respect of the financial year 13/2010, 40/2010, commencing 1 July 2014, an amount 37/2011, (calculated to the nearest dollar) equal 46/2011 and 34/2012. to 102.5% of $140 973; LawToday: www. (c) in respect of the financial year legislation. commencing 1 July 2015 and each vic.gov.au subsequent financial year, an amount (calculated to the nearest dollar) determined in accordance with the formula— where— A is the amount determined under paragraph (b) or, if that amount has been varied in accordance with this paragraph, that amount as last so varied; is the full-time adult average B weekly ordinary time earnings of employees in Victoria for the November reference period in the preceding financial year as last published by the Australian Bureau of Statistics for that reference period; C is the full-time adult average weekly ordinary time earnings of employees in Victoria for the
See: Act No. 7723. Reprint No. 10 as at 10 September 2009 and amending Act Nos 41/2007, 4/2009, 13/2010, 40/2010, 37/2011, 46/2011 and 34/2012. LawToday: www. legislation. vic.gov.au (1) In section 3 of the Parliamentary Salaries and Superannuation Act 1968, for the definition of basic salary substitute— "basic salary means— (a) in respect of the financial year commencing 1 July 2013, the amount of $140 973; (b) in respect of the financial year commencing 1 July 2014, an amount (calculated to the nearest dollar) equal to 102.5% of $140 973; (c) in respect of the financial year commencing 1 July 2015 and each subsequent financial year, an amount (calculated to the nearest dollar) determined in accordance with the formula— where— A is the amount determined under paragraph (b) or, if that amount has been varied in accordance with this paragraph, that amount as last so varied; B is the full-time adult average weekly ordinary time earnings of employees in Victoria for the November reference period in the preceding financial year as last published by the Australian Bureau of Statistics for that reference period; C is the full-time adult average weekly ordinary time earnings of employees in Victoria for the