Document ID: chunk:federal_register_of_legislation:F2018L01065:clause:2_5:p2
Version: federal_register_of_legislation:F2018L01065
Segment Type: clause
Provision Reference: sch 2 cl 5 (pt 2/9)
Character Range: 160800–163377

the secondary winner for a lot – the secondary price for that lot;
         (c)      for each lot available for bidding in that round that meets the minimum spectrum requirement test for the bidder and on which the bidder may make a bid – the number of bidders remaining in the secondary stage of the auction for that lot after the end time of the round;
         (d)      any other information the auction manager considers necessary or convenient to conduct the secondary stage of the auction.
      (3) Subclauses (1) and (2) do not prevent the auction manager or the ACMA from providing the information specified in those subclauses to other bidders at any time during the secondary stage.

      6 Recess days
      (1) The auction manager may declare a day to be a recess day (whether or not the day is a working day).
      (2) Before declaring a recess day, the auction manager must give bidders an opportunity to comment on the proposed declaration and take into account any comments received.
      (3) If the auction manager decides to declare a day to be a recess day the auction manager must tell each bidder of this.

Part 3—Bidding in the secondary stage

      7 When bidder cannot make a bid on a lot
       If, in a round of the secondary stage:
         (a)      a bidder does not make a bid on a lot; or
         (b)      a bidder is an exit bidder in the circumstances set out in clause 13 in relation to a lot;
 the bidder cannot make a bid on that lot in any subsequent round of the secondary stage.
          Note 1: A bidder makes a continue bid or exit bid on a lot in a round of the secondary stage in the circumstances specified in clause 11 or 13.
          Note 2: An exit bid made by the bidder may still be the final high bid for a lot, except where clause 13 applies.

      8 Starting price and specified price
      (1) A bid on a lot for an amount less than the starting price for that lot will not be accepted.
          Note: For starting prices, see paragraph 28(1)(d) of this instrument.  For the validity of bids, see clause 12.
      (2) The specified price for a lot in the first round of the secondary stage is the sum of:
         (a)      the starting price for the lot; and
         (b)      the bid increment percentage for the lot multiplied by that starting price;
       rounded up to the next hundred.
      (3) Subject to subclause (4), the specified price for a lot in a round of the secondary stage, other than the first round of the secondary stage, is the sum of:
         (a)      the specified price for the lot in the