This Order (effective 4 Jan 2007) applies a Schedule 4 tariff concession (Part III item 50) to specified turbine valve parts classed at tariff heading 8481.90.90 (spindles, segments, pistons, gland packing, rings, stuffing boxes, guide bushes, couplings). It is made under s.269P of the Customs Act 1901.
Mechanically, importers of those listed parts pay lower or no customs duty; the concession is administered by customs (a delegate of the CEO) and may be revoked under ss.269SC–269SD. The change reduces import costs and shifts compliance and classification verification to importers and customs.