Document ID: chunk:federal_register_of_legislation:C2007A00111:clause:1_99ace:p2
Version: federal_register_of_legislation:C2007A00111
Segment Type: clause
Provision Reference: sch 1 cl 99ACE (pt 2/2)
Character Range: 49432–51377

to subsection (5), does not exceed the agreed price in force, on the day before that day, for the related brand of the related item, reduced by 12.5%.

 (4) If a determination under section 85B was in force for the related brand of a related item on the day before the reduction day, the Minister may:
 (a) in a determination under section 85B for the related brand of the related item, specify a determined price and a claimed price for the related brand of the related item that:
 (i) come into force on the reduction day; and
 (ii) subject to subsection (5), do not exceed those respective prices in force on the day before that day, reduced by 12.5%; or
 (b) in a price agreement for the related brand of the related item, specify an agreed price for the related brand of the related item that:
 (i) comes into force on the reduction day; and
 (ii) subject to subsection (5), does not exceed the determined price in force, on the day before that day, for the related brand, reduced by 12.5%.

 (5) If, on a day before the reduction day:
 (a) one or more of the listed component drugs contained in the drug in the related item had been subject to a 12.5% price reduction; and
 (b) because of that price reduction, the approved price to pharmacists of the related brand of the related item was reduced;
then the reduction referred to in subsection (3) or (4) is to be adjusted to reflect:
 (c) the extent to which the 12.5% price reduction was taken into account in working out the amount of the reduction to the approved price to pharmacists; and
 (d) the quantity of the listed component drug contained in the drug in the related item.

Section does not limit Minister's powers

 (6) This section does not limit the Minister's powers, after the reduction day, to make:
 (a) further price agreements; or
 (b) further determinations under section 85B;
for the related brand of the related item.

Subdivision D—Other statutory price reductions