Document ID: chunk:federal_register_of_legislation:F2021L01155:reg:2c:p1
Version: federal_register_of_legislation:F2021L01155
Segment Type: reg
Provision Reference: reg 2C (pt 1/2)
Character Range: 175106–177549

2C  Applying a decrease bid
Provisional excess demand
 (1) In this clause, the provisional excess demand for lots of a product, immediately before a decrease bid is to be processed, is equal to the sum of:
 (a) the excess demand for the lots of the product at the start of the clock round; and
 (b) the difference between:
 (i) the number of lots for the increase bids of the product that have already been applied in full or in part, before the decrease bid that is to be processed; and
 (ii) the number of lots for the decrease bids of the product that have already been applied in full or in part, before the decrease bid that is to be processed;
  less:
 (c) the number of lots for the decrease bid of the product that is to be processed.
Note: In the case of a decrease bid that has been applied in part, the remainder of the decrease bid will still have to be processed for the current clock round.
Decrease bid applied in full
 (2) If, immediately before a decrease bid is processed, the provisional excess demand is equal to or greater than zero, the decrease bid is applied in full, such that the provisional posted demand for lots of the product of a bidder is equal to:
 (a) the number of lots of the product for the start demand of the bidder; less
 (b) the number of lots for the parts of the decrease bid of the product that have already been applied in part, if any, before the remainder of the decrease bid is to be processed; less
 (c) the number of lots for the decrease bid of the product that is to be processed.
 (3) If:
 (a) a minimum spectrum requirement of 2 lots has been selected for the lots of the product by the bidder; and
 (b) but for the effect of this subclause, subclause (4) applies and the provisional posted demand calculated in accordance with subclause (4) would have been one lot of the product;
  the decrease bid is applied in full, such that the provisional posted demand for the lots of that product of the bidder is equal to zero.
Decrease bid applied in part
 (4) Subject to subclause (3), if, immediately before a decrease bid is processed:
 (a) the provisional excess demand is less than zero; and
 (b) the absolute value of the provisional excess demand is less than the number of lots of the product for the decrease bid that is being processed;
  the decrease bid is applied in part, such that the provisional posted demand for the lots of a product of the bidder is equal to:
 (c) the number