delete Seamen's Compensation Regulations 1926 (Amendment)
Amends Seamen's Compensation Regulations 1926 to update the compensation calculation formula and specific dollar amounts for seamen suffering death or injury. Updates coefficient in regulation 13 and inserts new Schedule 1A with revised compensation rates.
Mandates specific compensation terms restricting freedom of contract between maritime employers and employees. Increases compliance costs and labor expenses for Australia's shipping sector, reducing competitiveness. Creates a one-size-fits-all government dictate that prevents market-based solutions through private insurance and voluntary agreements tailored to actual risk and preferences. The 1926 origins reflect paternalistic regulation that distorts labor markets and imposes unseen costs on trade-dependent businesses.