What it does: Declares certain subsea or above‑sea electric hydraulic lifting tools (working load limit up to 50 tonnes; cylinder internal engagement; hose reel) as goods covered by Part III Item 50 of Schedule 4 to the Customs Tariff Act 1995, effective 19 November 2010, under s.269P of the Customs Act 1901.
Who it affects and why it matters: This changes tariff treatment for importers of those specific goods (affecting duties payable). The declaration may be revoked under ss.269SC or 269SD, and importers must meet the technical description to rely on the concession.