Document ID: chunk:federal_register_of_legislation:F2020L01453:schedule:1:p15
Version: federal_register_of_legislation:F2020L01453
Segment Type: schedule
Provision Reference: sch 1 (pt 15/19)
Character Range: 147676–150408

than the bidder's eligibility points at the time of the bid or bids.

      13 Loss of eligibility points

(1) A bidder's eligibility points for a clock round (the next clock round) will be adjusted to an amount calculated in accordance with subclause (2) if the bidder does not meet its activity target in a clock round (the current clock round).

(2) The amount of a bidder's eligibility points under subclause (1) for the next clock round is to be calculated as follows:
(rounded up to the nearest integer);
where:
E is the bidder's eligibility points for the next clock round.
R is the higher of:
         (a)      the total value of the lots, in eligibility points, on which the bidder was active in the current clock round; or
         (b)      the sum, in eligibility points, of:
            (i)            the total value of the lots of each product, in eligibility points, for the start demands of the bidder; and
            (ii)         the total value of the lots of each product, in eligibility points, for all the increase bids of the bidder;
            less:
            (iii)       the total value of the lots of each product, in eligibility points, for all the decrease bids of the bidder;
            in the current clock round.
P is the eligibility requirement percentage that applied in the current clock round.
Example
A bidder's eligibility points at the start of a clock round is 20,000. The eligibility requirement percentage for the clock round is 60% (i.e. 12,000 eligibility points). After the clock round, the bidder is active for only 10,000 eligibility points (based on its posted demands), so eligibility points will be reduced as a result of under‑activity.
The bidder's new eligibility points (E) will be current activity (R — 10,000) divided by the activity requirement that applied in the clock round (P — 0.6), which is 16,667 eligibility points.
(3) A bidder who loses eligibility points in a clock round is only entitled to bid in future clock rounds in such a way that the sum, in eligibility points, of:
         (a)      the total value of the lots of each product, in eligibility points, for the start demands of the bidder; and
         (b)      the total value of the lots of each product, in eligibility points, for all the increase bids of the bidder;
         less:
         (c) the total value of the lots of each product, in eligibility points, for all the decrease bids of the bidder;
  is not greater than the bidder's eligibility points as adjusted in accordance with this clause.

          Note: There is nothing the bidder can do once the primary stage of the auction is under way to recover eligibility points.

      14 Clock round bids

(1) A bidder is entitled to bid in a