This Tariff Concession Order (0803919) declares that cold-water diaphragm pressure tanks (HS 7309.00.00) with capacity >300L and ≤500L are subject to Item 50 in Part III of Schedule 4 to the Customs Tariff Act 1995, effective 07.03.2008. It was made by a CEO delegate under s.269P and remains in force until revoked under ss.269SC or 269SD.
Mechanically, importers of these specific tanks receive whatever tariff treatment Item 50 provides; the Commonwealth forgoes the corresponding tariff revenue. Importers must meet the precise description/classification to use the concession, and the executive retains power to revoke it.