Document ID: chunk:federal_register_of_legislation:F2016L01970:clause:1_11:p2
Version: federal_register_of_legislation:F2016L01970
Segment Type: clause
Provision Reference: sch 1 cl 11 (pt 2/2)
Character Range: 120055–120933

round of the auction – that bid;
 (b) if one continue bid was made on the 5 MHz lot in the final round of the auction – that continue bid;
 (c) if each of the following applies:
 (i) no continue bid was made on the 5 MHz lot in the final round of the auction; and
 (ii) two or more exit bids were made on the 5 MHz lot in the final round of the auction; and
 (iii) one of those exit bids (the high exit bid) was greater than each of the other exit bids;
  – the high exit bid;
 (d) in any other case – worked out in accordance with clause 13.
 (5) Subject to subclauses 12(2) and 13(2), the bidder who made the final high bid for a lot is the winning bidder for that lot.
Note: An exit bid may have been a continue bid in a previous round of the auction, in accordance with clause 8. The definition of bid in section 4 of this instrument includes a bid that is taken to be made.