Document ID: chunk:federal_register_of_legislation:C2010A00126:clause:2_99acq
Version: federal_register_of_legislation:C2010A00126
Segment Type: clause
Provision Reference: sch 2 cl 99ACQ
Character Range: 29252–30912

99ACQ  5% statutory price reduction for brands of pharmaceutical items having a drug that is 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 not subject to an outstanding staged reduction; and
 (e) on 1 February 2011:
 (i) another listed brand (the staged brand) of a pharmaceutical item (the staged item) is subject to an outstanding staged reduction; and
 (ii) the relevant item and the staged item have the same drug;
then this section applies to the relevant brand of the relevant item on 1 February 2011.
 (2) For the purposes of item 10 of the table in section 99ACF, the reduction percentage for the relevant brand of the relevant item is the percentage that is worked out as follows:

      Method statement
           Step 1. See column 3 of item 9 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.