A New Tax System (Goods and Services Tax Transition) Act 1999

Part 3 - Agreements spanning 1 July 2000  

Division 2 - Agreements also spanning 1 July 2005  

Subdivision C - Arbitrated offers  

15J  

15J   Arbitrated offers  

An offer (the final offer ) to change the consideration for supplies, that are made on or after 1 July 2005 and that are specifically identified by an agreement of a kind referred to in subsection 13(1) , is an arbitrated offer if:

(a) the supplier has, in accordance with section 15K , made an offer (the initial offer ) to the recipient of the supplies to change the consideration; and

(b) change to the consideration has been arbitrated in accordance with section 15L ; and

(c) the supplier makes the final offer in accordance with section 15M .