What the official record says
This Act is the Remuneration Authority Amendment Act . This Act comes into force on the day after the date on which it receives the Royal assent. This Act amends the Remuneration Authority Act 1977. The following section is inserted after section 18: applies in relation to the Authority in determining the remuneration of any person or group of persons under section 12(1)(a) or 12B(1) or under any other enactment. The Authority— must take into account any prevailing adverse economic conditions, based on evidence from an authoritative source; and may determine the remuneration at a rate lower than it would otherwise have determined. A determination of remuneration at a lower rate under must not result in the remuneration of a person or group of persons being lower than the remuneration the p