(1) Subject to this Act, an insured person who suffers personal injury caused on or after 1 May 1967 by accident arising out of and in the course of his or her employment, being insurable (occupational injuries) employment, shall be entitled to disablement benefit where he or she suffers as a result of the accident from loss of physical or mental faculty such that the extent of the resulting disablement assessed in accordance with subsections (3) to (11) amounts to not less than 15 per cent.
(1A) In the case of any assessment of disablement -
(a) where the period to be taken into account by the assessment began before 1 January 2012, or
(b) where there has been a provisional assessment, and -
(i) the initial period to be taken into account by the assessment began before 1 January 2012, and
(ii) any subsequent period to be taken into account by the assessment begins on or after 1 January 2012,
subsection (1) shall be read as if "not less than 1 per cent" were substituted for "not less t
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