Document ID: chunk:federal_register_of_legislation:F2021L01155:reg:15:p3
Version: federal_register_of_legislation:F2021L01155
Segment Type: reg
Provision Reference: reg 15 (pt 3/3)
Character Range: 202171–203424

(d) and (e), see section 7 of the spectrum licence limits direction.
Note 2: Subsection 64(2) allows the auction manager to permit a bid to be made after a clock round has ended, in certain circumstances.
 (2) 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 requested a decrease bid for the number of lots equal to the bidder's start demand for lots of the product in that clock round, at the opening price for the lots of the product for that clock round.
Note 1: For subclause (2), the auction system places an automatic decrease bid for the relevant number of lots of the product for the clock round. This decrease bid is processed in accordance with clauses 2A and 2C, and may be applied in full, applied in part, or rejected. This 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 for lots of a product is applied in part, leaving a remainder of the decrease bid, or a decrease bid is rejected, the bidder will still have a posted demand for lots of the product for the clock round in which the decrease bid was made.

Part 5 Determining the primary winners and primary prices