Document ID: chunk:federal_register_of_legislation:F2016L01970:clause:1_6
Version: federal_register_of_legislation:F2016L01970
Segment Type: clause
Provision Reference: sch 1 cl 6
Character Range: 113199–113863

6  Changing bid increment percentage to vary specified prices
 (1) The auction manager may, at any time during the auction, change the bid increment percentage to vary the specified price for a lot in a round.
Note: For the bid increment percentage, see section 36.
 (2) Before doing this, the auction manager must:
 (a) tell bidders of the proposed change; and
 (b) ask bidders for their 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 received on the proposal.
 (3) The auction manager must notify all bidders of the change before the round when the change takes effect.