Document ID: chunk:federal_register_of_legislation:C2010A00126:clause:2_99acp
Version: federal_register_of_legislation:C2010A00126
Segment Type: clause
Provision Reference: sch 2 cl 99ACP
Character Range: 28051–29252

99ACP  5% statutory price reduction for brands of pharmaceutical items subject to outstanding staged reductions
 (1) If:
 (a) on 31 January 2011, a price agreement or a determination under section 85B is in force in relation to a listed brand (the relevant brand) of a pharmaceutical item (the relevant item); and
 (b) on 11 October 2010, the drug in the relevant item was in Part T of F2; and
 (c) on 1 February 2011, the relevant item is not an exempt item; and
 (d) on 1 February 2011, the relevant brand of the relevant item is subject to an outstanding staged reduction;
then this section applies to the relevant brand of the relevant item on 1 February 2011.
 (2) For the purposes of item 9 of the table in section 99ACF, the reduction amount for the relevant brand of the relevant item is the amount that is worked out as follows:

      Method statement
           Step 1. Work out the relevant price of the relevant brand of the relevant item.
           Step 2. Work out the amount (the comparison amount) that equals 25% of the relevant price.
           Step 3. Subtract the comparison amount from the relevant price.
      The reduction amount is 5% of the amount worked out at step 3.