Road Accident Fund Act, 1996 (Act No. 56 of 1996)

Board Notice 503

27 October 2023

GG 49556

Road Accident Fund

The Road Accident Fund hereby, in accordance with section 17(4A)(a) of the Road Accident Fund Act, No. 56 of 1996, adjusts and makes known that the amounts referred to in subsection 17(4)(c) are hereby adjusted to R352 489,00 with effect from 31 October 2023, to counter the effects of CPI inflation.

Note: The CPI index based on the new “basket and weights” was used to calculate this adjustment, effective from 31 October 2023 (with base year December 2021 = 100). The CPI index for May 2008 was 50.43 due to the December 2021 rebasing. The CPI index for August 2023 was 111.1. This adjustment was calculated by multiplying the R 160 000 limit by 111.1/50.43.