Document ID: chunk:federal_register_of_legislation:F2020L01453:schedule:1:p4
Version: federal_register_of_legislation:F2020L01453
Segment Type: schedule
Provision Reference: sch 1 (pt 4/19)
Character Range: 120242–123014

pseudorandom process.
            Step 5a: processes the bids to determine if the first bid in the queue is to be applied in full, applied in part, or rejected.
            Step 5b: if the bid is applied in full, deletes the bid from the queue and returns to Step 5a.
            Step 5c: if the bid is applied in part, modifies the bid by removing the part of the bid that is applied and leaving the remainder of the bid in its place in the queue, and returns to Step 5a.
            Step 5d: if the bid is rejected, leaves the bid in its place in the queue and determines if the next bid in the queue is to be:
                (i)            applied in full, and if so, returns to Step 5b; or
                (ii)         applied in part, and if so, returns to Step 5c; or
                (iii)       rejected, and if so, this Step 5d is recursive.
            Step 6: stops processing bids if:
                (i)            a bid is rejected and there is no next bid in the queue; or
                (ii)         there is no bid remaining in the queue.
            Step 7: determines:
                (i)            the posted price for the lots of each product for the clock round in accordance with subclause (6); and
                (ii)         the posted demand for each bidder for the lots of each product for the clock round in accordance with paragraph 2B(6)(a) or 2C(6)(a), whichever is the case.
          Note: Clause 2B deals with increase bids. Clause 2C deals with decrease bids. For posted demands for maintain bids, see clause 2D.
            Step 8: calculates the eligibility points of each bidder for the next clock round in accordance with paragraph 12(1)(b) and subclause 13(2).
 (2) In relation to Step 1, a maintain bid is:
         (a)      not collected by the processing algorithm; and
         (b)      always applied in full in accordance with clause 2D; and
         (c)      taken to be at the posted price for the current clock round.

       (3) For Step 5b:
         (a)      an increase bid is applied in full in accordance with the relevant subclauses in clause 2B;
         (b)      a decrease bid is applied in full in accordance with the relevant subclauses in clause 2C.
       (4) For Step 5c:
         (a)      an increase bid is applied in part in accordance with the relevant subclauses in clause 2B;
         (b)      a decrease bid is applied in part in accordance with the relevant subclauses in clause 2C.
       (5) Step 5d may be recursive, as the reference in that step to a next bid in the queue that is rejected includes a reference to something that is a next bid in the queue that is rejected because of the determination that occurs in that step.
          Note: If an increase bid or a decrease bid is rejected,