The decision came after a 90-minute hearing by the NRL judiciary on Tuesday night.
It means the Broncos will be without Carrigan until the last week of the regular competition. But it means Carrigan will be free to play assuming the Broncos make the finals.
Brisbane is currently fifth on the NRL ladder.
Carrigan had pleaded guilty to a dangerous contact charge for an incident in the 73rd minute of Brisbane's shock 32-18 loss to the Tigers last Saturday night. Hastings was bent back over Carrigan, with his ankle twisting underneath.
The Tigers lock was in immediate distress and pain and hobbled from the field with the help of trainers. Scans later confirmed Hastings had suffered a broken ankle and will require surgery — ending his NRL season.
He took to Twitter following the injury.
"I love footy more than anything and obviously this will be challenging," he wrote.
"My main focus right now is to get under the knife asap then get back to helping my teammates in any way possible finish off the year to the best of our abilities."
Carrigan, who spoke immediately after the match of Saturday about his concern for Hastings' welfare, said there was no intent to injure his opponent in the tackle.
"It's disappointing to be missing so many games at such an important time of the season but you have to abide by what the judiciary hands down and just accept it," said Carrigan.
"I'm really sorry that Jackson was injured as a result of the tackle and there was certainly never any intent on my behalf and I wish him all the best with his recovery.
"I'll go away and do some work on my technique and train hard over the next five weeks as well as doing what I can off the field to help my teammates as we look to win some more games."
Carrigan's spot in the Broncos starting team for Thursday night's game against the Roosters has been taken by Kobe Hetherington, who did an outstanding job deputising for the Wally Lewis Medal winner during the Origin period.
Carrigan, 24, has been a pivotal member of the Broncos resurgence this season, after he missed much of the previous season when he ruptured an anterior cruciate ligament (ACL).
He has played 13 games this year, averaging 143 running metres and 32 tackles a game.
Last month, Carrigan created State of Origin history as the first debutant to win the Wally Lewis Medal, as the player of the series for the Maroons.
The Broncos are in fifth place on the NRL ladder, but are only outside the top four on points differential.
They play a crucial top-eight clash against the Roosters at the Sydney Cricket Ground this Thursday night.
There are five rounds of the regular season to go.
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