Document ID: chunk:federal_register_of_legislation:F2018L01065:clause:2_5:p6
Version: federal_register_of_legislation:F2018L01065
Segment Type: clause
Provision Reference: sch 2 cl 5 (pt 6/9)
Character Range: 170154–172638

area are divided into two different products: the Perth lower band product and the Perth upper band product.  For the purposes of the allocation limits, the two products are treated as just one product. For all other purposes, they are to be treated as two products. See subsection 11(2).

      13 Exit bids – exclusion from further participation
      If, in a round of the secondary stage, both of the following occur:
         (a)      a bidder (the exit bidder) makes an exit bid on a lot (whether or not any other bidder also makes an exit bid on the lot); and
         (b)      two or more bidders make a continue bid on the lot;
      the exit bidder cannot make a bid on the lot in any subsequent round of the secondary stage.

           Note 1: For a round of the secondary stage where the only bids on a lot are exit bids, or only one continue bid is made in addition to any exit bids, see Part 4 of this Schedule.

           Note 2: The definition of bid in subclause 2(1) includes a bid that is taken to be made.

Part 4—Determining the secondary winners and secondary prices

      14 Final round for bids on a lot, final round of the secondary stage, and final high bid
      (1) The final round for bids on a lot is the first round of the secondary stage where one of the following applies:
         (a)      only one bid is made on the lot; or
         (b)      one or more exit bids, and no more than one continue bid, are made on the lot; or
         (c)      no bids are made on the lot.

          Note 1: For rules about bidding, see clauses 10, 11, 12 and 13.

          Note 2: The definition of bid in subclause 2(1) includes a bid that is taken to be made.
      (2) If, in relation to a round of the secondary stage, both of the following apply:
         (a)      the round was a round for bids on one or more lots; and
         (b)      after the round, the final round for bids on a lot has occurred for each lot;
       the round is the final round of the secondary stage.
      (3) For a lot other than a lot for which no bids were made in the first round of the secondary stage, the final high bid is:
         (a)      if one bid was made on the lot in the final round for bids on the lot – that bid;
         (b)      if one continue bid was made on the lot in the final round for bids on the lot – that continue bid;
         (c)      if all of the following apply:
            (i)        no continue bid was made on the lot in the final round for