Document ID: chunk:federal_register_of_legislation:C2017C00021:section:15l
Version: federal_register_of_legislation:C2017C00021
Segment Type: section
Provision Reference: s 15L
Character Range: 31034–32566

15L  Arbitration
 (1) Change to the consideration must be arbitrated as follows:
 (a) the supplier must apply to an arbitrator for the appointment of an assessor to determine an appropriate change to the consideration;
 (b) the arbitrator must appoint as an assessor a person whom the arbitrator is satisfied:
 (i) is suitably qualified to determine an appropriate change to the consideration; and
 (ii) is independent of both the supplier and the recipient;
 (c) in determining an appropriate change, the assessor must only take into account the impact of the New Tax System changes on the supplier's costs and expenses;
 (d) the assessor's determination of an appropriate change must be made within 28 days of the end of the offer period and:
 (i) be in writing, signed and dated by the assessor; or
 (ii) be in the form specified in the regulations.
 (2) The supplier must not apply under paragraph (1)(a) until after:
 (a) the end of the initial offer period; or
 (b) the recipient gives to the supplier a written rejection of the initial offer;
whichever happens earlier.
 (3) In this section:
New Tax System changes means the following:
 (a) the amendment of the former Sales Tax (Exemptions and Classifications) Act 1992 made by this Act;
 (b) the ending of sales tax, as provided for in the former A New Tax System (End of Sales Tax) Act 1999;
 (c) the imposition of GST;
 (d) any other changes (including changes to Commonwealth, State or Territory laws) prescribed by the regulations for the purposes of this definition.