Document ID: chunk:federal_register_of_legislation:C2010A00126:clause:2_99acl
Version: federal_register_of_legislation:C2010A00126
Segment Type: clause
Provision Reference: sch 2 cl 99ACL
Character Range: 23277–24897

99ACL  Staged price reduction: staged reductions under section 99ACK causing statutory price reductions for other brands of pharmaceutical items having the drug
 (1) This section applies to a listed brand (the existing brand) of a pharmaceutical item (the existing item) on a day (the reduction day) if, on the reduction day:
 (a) the existing brand of the existing item is not subject to an outstanding staged reduction; and
 (b) a listed brand (the staged brand) of a pharmaceutical item (the staged item) is subject to an outstanding staged reduction; and
 (c) section 99ACK applies to the staged brand of the staged item; and
 (d) the existing item and the staged item have the same drug.
Note: For the purposes of paragraphs (b) and (d), the existing brand and the staged brand may be the same brand, or the existing item and the staged item may be the same pharmaceutical item.
 (2) For the purposes of item 5 of the table in section 99ACF, the reduction percentage for the existing brand of the existing item is the percentage that is worked out as follows:

      Method statement
           Step 1. See column 3 of item 4 of the table in section 99ACF to work out the amount (the staged brand's reduction amount) by which the agreed price or determined price of the staged brand of the staged item is reduced on the reduction day.
           Step 2. Work out what percentage the staged brand's reduction amount represents of the agreed price or determined price of the staged brand of the staged item on the day before the reduction day.
      The reduction percentage is the percentage worked out at step 2.