Document ID: chunk:federal_register_of_legislation:C2021A00139:clause:1_99acq
Version: federal_register_of_legislation:C2021A00139
Segment Type: clause
Provision Reference: sch 1 cl 99ACQ
Character Range: 34702–36025

99ACQ  Flow‑on of price reductions to existing brands of the same pharmaceutical item
 (1) This section applies to a brand (the existing brand) of a pharmaceutical item if:
 (a) subsection 99ACB(5) or (5A) or 99ACD(5) or (5A) has applied to the agreed price for a brand (the new brand) of the pharmaceutical item; and
 (b) that price comes into force on a day (the reduction day); and
 (c) on the day before the reduction day, the existing brand of the item was a listed brand of the item.
Note: See also section 99ACG.
 (2) On the reduction day, the approved ex‑manufacturer price of the existing brand of the item is taken to be reduced to an amount equal to the approved ex‑manufacturer price of the new brand.
 (3) If the approved ex‑manufacturer price of the existing brand of the item is reduced under subsection (2), then, on the reduction day, the claimed price (if any) of the existing brand is taken to be reduced by a percentage equal to the percentage by which the approved ex‑manufacturer price of the existing brand of the item is reduced under subsection (2).

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