Document ID: chunk:federal_register_of_legislation:F2024C00948:reg:27
Version: federal_register_of_legislation:F2024C00948
Segment Type: reg
Provision Reference: reg 27
Character Range: 38891–41327

27  Tenders—recording and ranking
  The procedure for recording and ranking tenders is as follows:
 (a) the tender manager is to open the tender envelope for each eligible person;
 (b) the tender manager is to record, for each eligible person:
 (i) the person's name; and
 (ii) the amount bid by the person per fishing right; and
 (iii) whether the person's bid is invalid and, if it is, the reason why it is invalid (see section 28 for how invalid bids are dealt with); and
 (iv) any other information required by the conditions of tender;
 (c) the tender manager is to rank the tenders, except invalid bids, submitted by eligible persons according to the amount bid per fishing right;
 (d) if 2 or more tenderers bid the same amount per fishing right, they are to be ranked equally;
 (e) if AFMA has set a reserve price, the tender manager is then to open the reserve price envelope and record, for each tender, whether the amount bid is less than, equal to or higher than the reserve price (see section 28 for how bids less than the reserve price are dealt with);
 (f) if the conditions of tender set a minimum number of fishing rights that a tenderer may acquire, the tender manager is then to record, for each tender, whether the minimum number that the tenderer will accept is equal to or more than the minimum number set by the conditions;
 (g) if the conditions of tender set a maximum number of fishing rights that a tenderer may acquire, the tender manager is then to record, for each tender, whether the maximum number that the tenderer is prepared to acquire is equal to or less than the maximum number set by the conditions;
 (h) subject to section 28, the tender manager is to prepare a precedence list setting out for each eligible person who tendered:
 (i) the person's name and contact details; and
 (ii) the amount bid per fishing right; and
 (iii) if the conditions of tender allow a tenderer to specify the maximum number of fishing rights that the tenderer is prepared to acquire, or the minimum number of fishing rights that the tenderer will accept, at the amount bid—those maximum and minimum numbers;
 (i) if the conditions of tender allow a tenderer to acquire less than all of the available fishing rights—the precedence list must also set out the matters provided for in section 29;
 (j) if the tender manager is not AFMA, the tender manager is then to give AFMA a report incorporating the precedence list.