Higher Education Support Act 2003
The indexation factor for the relevant year is:
|The *index number for the December reference quarter|
|The *index number for the December base quarter|
December base quarter
means the *quarter ending on the 31 December that is 2 years and a day before the relevant 1 January.
December reference quarter
means the *quarter ending on the 31 December that is a year and a day before the relevant 1 January.
Work out the *indexation factor to 3 decimal places (rounding up if the fourth decimal place is 5 or more).
If the factor is 1.102795, it is rounded up to 1.103.
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