Document ID: chunk:federal_register_of_legislation:F2021L01155:reg:2a:p2
Version: federal_register_of_legislation:F2021L01155
Segment Type: reg
Provision Reference: reg 2A (pt 2/2)
Character Range: 165252–166815

and subclause 13(2).
 (2) In relation to Step 1, a maintain bid is:
 (a) not collected by the processing algorithm; and
 (b) always applied in full in accordance with clause 2D; and
 (c) taken to be at the posted price for the current clock round.
 (3) For Step 5b:
 (a) an increase bid is applied in full in accordance with the relevant subclauses in clause 2B; and
 (b) a decrease bid is applied in full in accordance with the relevant subclauses in clause 2C.
 (4) For Step 5c:
 (a) an increase bid is applied in part in accordance with the relevant subclauses in clause 2B; and
 (b) a decrease bid is applied in part in accordance with the relevant subclauses in clause 2C.
 (5) Step 5d may be recursive, as the reference in that step to the next bid in the queue that is rejected includes a reference to a bid 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 for the lots of the product is greater than zero – the posted price is the clock price for the clock round;
 (b) if the excess demand for the lots of the product is not greater than zero – the posted price is:
 (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.