3Interpretation

3 Interpretation

(1) In this Act, unless the contrary intention appears:

Customs undertaking means an undertaking given, in accordance with subsection 267(1) of the Customs Act 1901, by a person who furnishes a tender in accordance with a call for tenders made under a scheme under Part XV of the Customs Act 1901.

prescribed percentage, in relation to goods, means the prescribed percentage set out in the Customs undertaking that relates to the goods.

relevant Customs undertaking, in relation to a tender furnished in accordance with a call for tenders made under a scheme under Part XV of the Customs Act 1901, means the undertaking relating to that tender that is given in accordance with subsection 267(1) of the Customs Act 1901.

(2) For the purposes of this Act, where a Customs undertaking sets out the value of a unit of the goods to which the undertaking relates, the value of the goods shall be calculated in accordance with that value.