Document ID: chunk:federal_register_of_legislation:F2021L01155:reg:12
Version: federal_register_of_legislation:F2021L01155
Segment Type: reg
Provision Reference: reg 12
Character Range: 193246–194537

12  Eligibility points
 (1) For a clock round, a bidder's eligibility points are:
 (a) for the first clock round – the total value of the lots of each product (in eligibility points) for the start demands of the bidder as recorded in the auction system under paragraph 3(3)(a) or subclause 3(5) (initial eligibility points); or
 (b) for any other clock round – the lesser of:
 (i) the bidder's eligibility points in the previous clock round; and
 (ii) the bidder's eligibility points calculated in accordance with subclause 13(2).
Note: This means that, if a bidder's posted demands for the lots of each product are zero for any clock round, the bidder's eligibility points will become zero and the bidder will not be entitled to bid in subsequent clock rounds for the lots of any products.
 (2) A bidder is not entitled to bid in a clock round in such a way that:
 (a) the total value of the lots of each product, in eligibility points, for all the start demands of the bidder; plus
 (b) the total value of the lots of each product, in eligibility points, for all the increase bids of the bidder; minus
 (c) the total value of the lots of each product, in eligibility points, for all the decrease bids of the bidder;
  is greater than the bidder's eligibility points for that clock round.