Document ID: chunk:federal_register_of_legislation:F2020L01453:schedule:4:p32
Version: federal_register_of_legislation:F2020L01453
Segment Type: schedule
Provision Reference: sch 4 (pt 32/38)
Character Range: 84778–87431

auction starts on the date and time for that clock round set by the auction manager under paragraph 50(1)(a).

50 First and second clock rounds and pre-bidding phase before first clock round
 (1) After the later of the eligibility deadline or extended eligibility deadline (if there is one), the auction manager must:
(a)     set the start date and start time of the first and second clock rounds of the primary stage of the auction; and
(b)     set a period of at least 3 hours (the pre-bidding phase), which must start not more than 48 hours before the start date and start time of the first clock round of the primary stage of the auction, within which a bidder may, using the auction system:
            (i)       enter the bidder's actual start demands, by changing or confirming the bidder's provisional start demands, for the lots of each product  for the first clock round of the primary stage; and
            (ii)     enter the bidder's actual minimum spectrum requirements (if any), by changing or confirming the bidder's provisional minimum spectrum requirements (if any), for the lots of each product for the primary stage.
 (2) At least 10 working days before the start date of the first clock round of the primary stage of the auction, the auction manager must notify bidders of:
(a)     the start date and start time of the first and second clock rounds of the primary stage; and
(b)     the start date and start time of the pre-bidding phase.

Part 5—Auction procedures
Division 1 Procedures to be applied

51 Auction stages
 (1) The auction consists of a primary stage, a secondary stage (if required) and an assignment stage.
 (2) The primary stage is made up of:
(a)      the pre-bidding phase, for bidders to change or confirm their:
            (i)       provisional start demands for the lots of each product; and
            (ii)     provisional minimum spectrum requirements (if any) for the lots of each product; and
(b)      one or more clock rounds for the making of bids on lots of a product and the results of that clock round; and
(c)      the determination of the final posted demands, as a result of the final clock round, for the lots of each product allocated to a primary winner and of the associated primary price, after all clock rounds are completed.
 (3) The secondary stage, if required, is made up of:
(a)      one or more rounds for the making of bids on any residual lot of a product that is available in the secondary stage of the auction and the results of the round; and
(b)      the determination of the winning final high bids for any residual lot of a product allocated to a secondary winner and of the