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  

15K   Initial offer  

(1)    
The initial offer:

(a) must be in writing; and

(b) must set out a change to the consideration for the supplies; and

(c) must state the period (the initial offer period ) for which the offer remains open.

(2)    
The initial offer period must be a period of at least 28 days after the supplier gives the initial offer to the recipient.