Clause 3

by deleting “$25,000” in subsection (1)(b) and substituting the words “the specified amount”;

by deleting subsection (7);

by deleting the words “subsection (7) shall apply, with the necessary modifications,” in subsection (8) and substituting the words “subsection (1)(b) shall apply”;

by deleting “$5,000” in paragraph (a) of the definition of “relevant amount” in subsection (12) and substituting “$4,500”;

by deleting “$85,000” in paragraph (b) of the definition of “relevant amount” in subsection (12) and substituting “$76,500”; and

by inserting, immediately after the definition of “relevant employer” in subsection (12), the following definition:“ “specified amount” means —

in relation to the year 2005, the difference between $85,000 and the total ordinary wages paid to the employee in that year; and for this purpose, any amount of ordinary wages paid to the employee for any month in the year in excess of $5,000 shall be disregarded;

in relation to the year 2006 and every subsequent year, the difference between $76,500 and the total ordinary wages paid to the employee in that year; and for this purpose, any amount of ordinary wages paid to the employee for any month in the year in excess of $4,500 shall be disregarded;”.