Document ID: chunk:federal_register_of_legislation:F2021L01155:reg:16
Version: federal_register_of_legislation:F2021L01155
Segment Type: reg
Provision Reference: reg 16
Character Range: 234330–235209

16  Tiebreaker for a lot
 (1) This clause applies in relation to a lot if:
 (a) no continue bid was made on the lot in the final round for bids on the lot; and
 (b) two or more exit bids were made on the lot in the final round for bids on the lot; and
 (c) of those exit bids:
 (i) two or more of those exit bids were equal (the tied exit bids); and
 (ii) the tied exit bids were greater than each other exit bid mentioned in paragraph (b).
 (2) Where this clause applies, the secondary winner for the lot will be selected from the bidders who made the tied exit bids using a pseudorandom process. The pseudorandom process must be conducted before the next round of the secondary stage (if any).
 (3) For the purposes of paragraph 15(3)(d), the final high bid on the lot is the amount of the last bid made by the secondary winner.

Part 5 Bringing the secondary stage to an end