(1) In this clause May reference period means the quarter that commences on the first day of March in any year;quarter means a period of 3 months commencing on the first day of March, June, September or December in any year.(2) The escalator index for the second year and third year in respect of a motor vehicle of any class is to be calculated in accordance with the following formula:
where
"E"
is the escalator index for the second year or third year, as the case requires; and
"A"
is the average of the AWOTE for the four quarters ending with the May reference period immediately preceding the second year or third year, as the case requires; and
"B"
is the average of the AWOTE for the four quarters immediately preceding the four quarters referred to in the definition of "A".