Document ID: chunk:federal_register_of_legislation:F2020L01453:schedule:1:p13
Version: federal_register_of_legislation:F2020L01453
Segment Type: schedule
Provision Reference: sch 1 (pt 13/19)
Character Range: 142499–145424

determined:
            (i)        for the first clock round – based on paragraph (a) of the definition of aggregate demand in subclause 2(1); or
            (ii)      for any clock round other than the first clock round – based on paragraph (b) of the definition of aggregate demand in subclause 2(1) in the previous clock round;

          Note: For the definition of excess demand, see subclause 2(1).
         (e)      the eligibility points of the bidder for the clock round;
         (f)       the bid increment percentage for the clock round;
         (g)      the eligibility requirement percentage for the clock round;
         (h)      any other information the auction manager considers necessary or convenient to conduct the primary stage of the auction.

      (2) After the end time of each clock round, the auction manager must provide the following information to each bidder for that clock round, using the auction system:
         (a)      the posted prices for the lots of each product in the clock round;
         (b)      the posted demands of the bidder for the lots of each product in the clock round;
         (c)      any other information the auction manager considers necessary or convenient to conduct the primary stage of the auction.

      9 Changing bid increment percentage

      (1) The auction manager may, at any time during the primary stage, change the bid increment percentage for the lots of a product to be applied in calculating the clock price for the lots of a product in a clock round.

      Note: For the bid increment percentage, see subclause 4(1).

      (2) Before doing this, the auction manager must:
         (a)    tell each bidder in writing of the proposed change; and
         (b)    ask each bidder to provide comments on the proposal within the time (being not less than 1 hour) set by the auction manager; and
         (c)    take into account any comments on the proposal that are received within that time.

      (3) The auction manager must notify each bidder for the clock round when the change takes effect before that clock round.

          Note: The clock price for lots of a product could only be reduced if the primary stage of the auction is restarted either from the first clock round of the primary stage or from a previous clock round under section 55.

      10 Changing eligibility requirement percentage
      (1) The auction manager may, at any time during the primary stage, change the eligibility requirement percentage to be applied in calculating the activity target during a clock round.
          Note: For the eligibility requirement percentage, see subclause 4(4).
      (2) Before doing this, the auction manager must:
         (a)      tell each bidder in writing of the proposed change; and
         (b)      ask each bidder to provide comments on the proposal within the time (being not less than 1 hour) set by the auction manager;