Document ID: chunk:federal_register_of_legislation:C2007A00111:clause:1_4
Version: federal_register_of_legislation:C2007A00111
Segment Type: clause
Provision Reference: sch 1 cl 4
Character Range: 52631–55201

4                                 99ACK    the amount that equals the staged percentage for the listed brand of the pharmaceutical item for the reduction day

Note: Subsection (1) does not apply if there is no determination under subsection 85(6) in respect of the pharmaceutical item in force on the specified day (whether or not the determination was revoked following a request by the responsible person for the pharmaceutical item).

Reduction more than percentage or amount

 (2) This subsection applies if:
 (a) a section referred to in column 2 of the table in subsection (1) applies to a listed brand of a pharmaceutical item on a reduction day; and
 (b) on the reduction day the approved price to pharmacists of the listed brand of the pharmaceutical item does not exceed the approved price to pharmacists of the brand of the pharmaceutical item in force on the day before the reduction day, reduced by more than:
 (i) the percentage specified in column 3 of the table for the section referred to in column 2; or
 (ii) 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; and
 (c) if a determination under section 85B was in force in relation to the listed brand of the pharmaceutical item on the day before the reduction day and on the reduction day—the claimed price for the brand of the pharmaceutical item does not exceed the claimed price for the brand of the pharmaceutical item in force on the day before the reduction day, reduced by more than the percentage or amount specified in column 3 of the table for the section referred to in column 2.

Sequence of application of 2 or more price reductions

 (3) If 2 or more items of the table in subsection (1) apply to a listed brand of a pharmaceutical item on the same day:
 (a) apply the items in the order they appear in the table; and
 (b) apply the second and later items as if the determined price and the claimed price, or the agreed price, (as the case requires) were those prices as affected by the operation of the item or items that have already been applied.

Section does not limit Minister's powers

 (4) 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 listed brand of the pharmaceutical item.

Definitions

 (5) In this section:

staged percentage means the percentage prescribed for the purposes of paragraph 99ACK(3)(b).