Document ID: chunk:federal_register_of_legislation:C2022C00026:clause:1_12
Version: federal_register_of_legislation:C2022C00026
Segment Type: clause
Provision Reference: sch 1 cl 12
Character Range: 8626–9919

12  Subsection 99ACB(5)
Repeal the subsection, substitute:
 (4A) If, on the day before the determination day:
 (a) the approved ex‑manufacturer price of a listed brand of the existing item on 1 January 2016; or
 (b) if paragraph (a) does not apply—the original approved ex‑manufacturer price of the first listed brand of the existing item;
has, by virtue of previous price reductions, been reduced by:
 (c) 15% or less, subsection (5) applies; and
 (d) more than 15% but less than 40%, subsection (5A) applies.
Note: If previous price reductions have been 40% or more, see paragraph (2)(d).
 (5) Subject to subsections (6) and (6A), the agreed price of the new brand of the trigger item that comes into force on the determination day must not exceed the approved ex‑manufacturer price, on the day before the determination day, of the existing brand of the existing item, reduced by 25%.
 (5A) Subject to subsections (6) and (6B), the agreed price of the new brand of the trigger item that comes into force on the determination day must not exceed:
 (a) 60% of the approved ex‑manufacturer price of a listed brand of the existing item on 1 January 2016; or
 (b) if paragraph (a) does not apply—60% of the original approved ex‑manufacturer price of the first listed brand of the existing item.