If the prescribed
amount under the former Act that applies immediately before commencement day
(the prescribed amount before commencement ) is different from the amount of
$243 991 specified as the general maximum amount in section 538, the
prescribed amount immediately before commencement day replaces the amount of
$243 991 as the amount specified as the general maximum amount in
section 538.
Note for this section:
$243 991 is the
prescribed amount under the former Act on the date of introduction into
Parliament of the Bill for this Act. This section provides for that amount to
be updated to reflect any change in the prescribed amount under the former Act
that occurs between introduction of the Bill for this Act and commencement
day. This section does not prevent subsequent variation by regulation of the
general maximum amount as provided by section 538.