Document ID: chunk:federal_register_of_legislation:F2021L01155:reg:14
Version: federal_register_of_legislation:F2021L01155
Segment Type: reg
Provision Reference: reg 14
Character Range: 196543–197891

14  Clock round bids
 (1) A bidder, other than a bidder to which subclause (2) applies, is entitled to bid in a clock round if the bidder's eligibility points for the clock round are greater than zero.
 (2) If a set-aside participant is not entitled to bid during the primary stage and the secondary stage, that set-aside participant is not entitled to bid in any clock round.
 (3) A bidder may not make more than one bid for the lots of each product in each clock round.
 (4) Except where subsection 64(1) or 64(2) applies, a bidder's bid in a clock 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 a bid to be made other than by using the auction system, in certain circumstances. Subsection 64(2) allows the auction manager to permit a bid to be made after a clock round has ended, in certain circumstances.
 (5) A bidder may change, delete or replace a bid in the auction system during a clock round as often as desired, subject to the data validation checks performed by the auction system. The bid for the lots of a product that is treated as binding for a bidder is the bid in the auction system at the end time of the clock round.
Note: A bidder may also be taken to make a bid as permitted by section 64.