Document ID: chunk:federal_register_of_legislation:F2020L01453:schedule:1:p5
Version: federal_register_of_legislation:F2020L01453
Segment Type: schedule
Provision Reference: sch 1 (pt 5/19)
Character Range: 122788–125383

queue that is rejected includes a reference to something that is a next bid in the queue that is rejected because of the determination that occurs in that step.
          Note: If an increase bid or a decrease bid is rejected, the bid is not applied at that time.

       (6) For Step 7, the posted price for lots of a product is determined as follows:
         (a)      if the excess demand is greater than zero for the lots of the product, the posted price is the clock price for the clock round; or
         (b)      if the excess demand is not greater than zero for the lots of the product, the posted price is either:
            (i)            if any decrease bid is applied in full or in part, the highest bid price at which a decrease bid is applied for the clock round; or
            (ii)         if no decrease bid is applied in full or in part, the opening price for the clock round.

      2B Applying an increase bid
       (1) In this clause, the available activity (in eligibility points) of a bidder, immediately before an increase bid is to be processed, is equal to the sum of:
         (a)      the difference between:
            (i)            the eligibility points of the bidder at the start of the clock round; and
            (ii)         the sum of the lot ratings for the total of the start demands of the bidder for each product at the start of the clock round; and
         (b)      the difference between:
            (i)            the sum of the lot ratings for the decrease bids of each product that have already been applied in full or in part, before the increase bid that is to be processed; and
            (ii)         the sum of the lot ratings for the increase bids of each product that have already been applied in full or in part, before the increase bid that is to be processed.
       (2) If the available activity (in eligibility points), immediately before an increase bid is processed, is equal to or greater than the sum of the lot ratings for the increase bid that is to be processed, the increase bid is applied in full, such that the provisional posted demand for the lots of a product of a bidder is equal to the sum of:
         (a) the number of lots of the product for the start demand of the bidder; and
         (b) the number of lots for the parts of the increase bid of the product that have already been applied in part, if any, before the remainder of the increase bid is to be processed; and
         (c) the number of lots for the increase bid of the product that is being processed.

          Note: In the case of an increase bid