Document ID: chunk:federal_register_of_legislation:C2007A00111:clause:1_99acf
Version: federal_register_of_legislation:C2007A00111
Segment Type: clause
Provision Reference: sch 1 cl 99ACF
Character Range: 51380–52489

99ACF  Statutory price reductions

Reduction equal to percentage or amount

 (1) Subject to section 99ACG, if:
 (a) a section referred to in column 2 of the table in this subsection applies to a listed brand of a pharmaceutical item on a day specified in the section (the reduction day); and
 (b) subsection (2) does not apply to the listed brand of the pharmaceutical item on the reduction day; and
 (c) on the day before the reduction day, an agreed price was, or a determined price and a claimed price were, in force for the listed brand of the pharmaceutical item;
then, the agreed price is, or the determined price and the claimed price are, taken to be reduced, on the reduction day, by the following:
 (d) the percentage specified in column 3 of the table for the section referred to in column 2;
 (e) if there is a staged percentage for the listed brand of the pharmaceutical item for the reduction day—the amount specified in column 3 of the table for the section referred to in column 2.

Statutory price reductions table
Item                              Section  Percentage or amount for section