Document ID: chunk:federal_register_of_legislation:F2023L00865:reg:103:p2
Version: federal_register_of_legislation:F2023L00865
Segment Type: reg
Provision Reference: reg 103 (pt 2/2)
Character Range: 145096–146809

the clock round.
 (5) A valid bid to which subsection (4) applies is an increase bid for the product for the clock round.

Decrease bid
 (6) This subsection applies to a bid for a product in a clock round if:
 (a) it is a request for a number of lots of the product in the clock round; and
 (b) that number of lots falls short of the bidder's start demand for the product for the clock round, but is not less than zero; and
 (c) the bid price:
 (i) is a multiple of one hundred dollars; and
 (ii) is not less than the opening price and not greater than the clock price for the lots of the product for the clock round; and
 (d) if the bidder elected to adopt the minimum spectrum requirement—the number of lots requested is not 1.
 (7) A valid bid to which subsection (6) applies is a decrease bid for the product for the clock round.

Deemed bids
 (8) If a bidder does not make a bid, or does not make a valid bid, for lots of a product in a clock round, the bidder is taken to have made:
 (a) if the bidder's start demand for the product is zero lots—a maintain bid for the product for the clock round; or
 (b) if the bidder's start demand for the product is one or more lots—a decrease bid for zero lots of the product in that clock round, at the opening price for the lots of the product for that clock round.
Note 1: The decrease bid mentioned in paragraph (b) may affect the bidder's eligibility points for the next clock round.
Note 2: During the bid processing for a clock round, if a decrease bid is applied in part leaving a remainder of the decrease bid, or a decrease bid is rejected, a bidder will still have a posted demand for lots of a product for the clock round to which the decrease bid relates.