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65.4. (Repealed).

65.4. The amounts of money provided for in sections 65 to 65.2 are increased, where applicable, for each fiscal period of the municipality, in accordance with the following paragraphs.

The amounts are adjusted on 1 January each year according to the rate of increase in the Consumer Price Index for Canada established by Statistics Canada.

The rate of increase is established on the basis of the Consumer Price Index for Canada for the month preceding the adjustment, reduced by the Consumer Price Index for Canada for the same month of the preceding year, divided by this last Consumer Price Index.

Where the product of the computation contemplated in the second paragraph applied to an amount per inhabitant is a number that includes a decimal fraction, only the first three digits after the decimal marker are retained. Where the product of that computation applied to any other amount is not a multiple of 10, it is rounded off to the nearest multiple of 10.

An amount applicable for a particular fiscal period must not be less than the amount applicable for the preceding period, nor exceed it by more than six per cent.

65.4. The amounts of money provided for in sections 65 to 65.2 are increased, where applicable, for each fiscal period of the municipality, in accordance with the following paragraphs.

An amount applicable for a particular fiscal period is equal to the amount applicable for the preceding period, multiplied by the Base Wage for the year preceding the period being considered and divided by the Base Wage for the year preceding that year.

The Base Wage for a year is the arithmetic mean of weekly salaries and wages of the Industrial Composite in Canada, as published by Statistics Canada under the Statistics Act (Statutes of Canada, 1970-71-72, c. 15), for each of the twelve months of the period ending with the month of June in that year. The salaries and wages, for each of the two years preceding the municipal fiscal period being considered, are those appearing in the first publication of Statistics Canada that contains the salaries and wages for the month of June immediately preceding the fiscal period.

Where the product of the computation contemplated in the second paragraph applied to an amount per inhabitant is a number that includes a decimal fraction, only the first three digits after the decimal marker are retained. Where the product of that computation applied to any other amount is not a multiple of 10, it is rounded off to the nearest multiple of 10.

An amount applicable for a particular fiscal period must not be less than the amount applicable for the preceding period, nor exceed it by more than six per cent.