Document ID: chunk:federal_register_of_legislation:F2021L01155:reg:5
Version: federal_register_of_legislation:F2021L01155
Segment Type: reg
Provision Reference: reg 5
Character Range: 248157–250546

5  Assignment bids
 (1) An assignment bid consists of:
 (a) the frequency range option that is being bid on; and
 (b) a bid price for that option that is a multiple of 1,000.
Note: If an assignment round is for two or more products, the frequency range option that is being bid on applies in relation to each of those products.
 (2) An assignment bidder:
 (a) may, for each option in the list of frequency range options provided to the bidder by the auction manager, make a single assignment bid on that option; and
 (b) must not make an assignment bid on a frequency range that is not in the list of frequency range options.
Note: See subclauses (5) and (6) for when an assignment bid is taken to be made.
 (3) Except where subsection 64(1) or 64(2) applies, an assignment bidder's assignment bid in an assignment round is taken to have been made when the bid has passed data validation checks that are performed by the auction system.
Note: Subsection 64(1) allows the auction manager to permit an assignment bid to be made other than by using the auction system, in certain circumstances. Subsection 64(2) allows the auction manager to permit an assignment bid to be made after an assignment round has ended, in certain circumstances.
 (4) An assignment bidder may change, delete or replace an assignment bid in the auction system during an assignment round as often as desired, subject to the data validation checks performed by the auction system. The assignment bid that is treated as binding for an assignment bidder is the assignment bid in the auction system at the end time of the assignment round.
Note: An assignment bidder may also be taken to make an assignment bid in accordance with section 64, or subclauses (5) or (6). See also subclause 4(7).
 (5) In an assignment round, if there is a frequency range option in the list of frequency range options for an assignment bidder on which:
 (a) no assignment bid is made by the bidder; or
 (b) the bidder made an invalid assignment bid;

  the assignment bidder is taken to have made an assignment bid on that frequency range option with a bid price of zero dollars.

 (6) In any assignment round, if an assignment bidder does not make an assignment bid, the bidder is taken to have made an assignment bid on each frequency range option in the list of frequency range options for the bidder, with a bid price of zero dollars.