Document ID: chunk:federal_register_of_legislation:F2020L01453:schedule:1:p19
Version: federal_register_of_legislation:F2020L01453
Segment Type: schedule
Provision Reference: sch 1 (pt 19/19)
Character Range: 157241–158973

(2) The total posted price, for a primary winner, for an allocated lot or lots of a product in the primary stage is an amount equal to the posted price for a lot of the product for the final clock round multiplied by the number of lots comprising the posted demand of the primary winner for that product.

 (3) The primary price to be paid by a primary winner for all the allocated lots of each product of the primary winner is the sum of all the primary winner's total posted prices.

 (4) The primary price calculated in accordance with subclause (3) must be rounded to the nearest hundred.
          Note: This clause relates to Division 2 of Part 6 of this instrument for the purposes of section 294 of the Act and is disallowable under section 42 of the Legislation Act 2003.

Part 6—Bringing the primary stage to an end

      18 Results of the primary stage

(1) After the primary winners and primary prices are determined, the auction manager must tell each primary winner, in writing:
(a)      the total number of lots of each product allocated to the primary winner; and
(b)      the total posted price for the allocated lots of each product and the primary price to be paid by the primary winner for all allocated lots.
 (2) After the primary winners and primary prices are determined, the auction manager must tell all bidders, in writing:
(a)      the total number of primary winners; and
(b)      the total number of lots of each product that have been allocated to primary winners.

      19 End of the primary stage

  Immediately after the auction manager provides the results in accordance with subclauses 18(1) and 18(2), the auction manager must tell each bidder, in writing, that the primary stage is completed.