Tariff Concession Order 0705487 declares certain observation-wheel parts (transmissions, hub modules, tyre-friction transmission drives) classified at 8483.40.90 are eligible for Schedule 4 item 50 concession from 16 April 2007 until revoked. Mechanically, it lets importers enter those specific parts under concessional tariff treatment.
Decision is made by a delegate under s269P of the Customs Act 1901; revocation is available under ss269SC/269SD. Importers pay lower duties; the Commonwealth forgoes tariff revenue and remains responsible for classification and compliance checks.