Document ID: chunk:federal_register_of_legislation:F2020L01453:schedule:1:p11
Version: federal_register_of_legislation:F2020L01453
Segment Type: schedule
Provision Reference: sch 1 (pt 11/19)
Character Range: 137474–140352

entered under paragraph (2)(a) or taken to be entered under paragraph (3)(a), the initial eligibility points of the bidder do not exceed the maximum eligibility points of the bidder.
       (7) After the end time of the pre-bidding phase, the auction manager must provide the following information to each bidder, using the auction system:
          (a)       the bidder's actual start demands for the lots of each product  for the first clock round;
          (b)       the bidder's minimum spectrum requirements (if any) for the lots of each product for the primary stage;
          (c)       the bidder's initial eligibility points.
       (8) In this clause, initial eligibility points has the meaning given by subparagraph 12(1)(a).

      4 Setting bid increment percentage and eligibility requirement percentage
      (1) Before the first clock round, the auction manager must set a percentage (the bid increment percentage) for the lots of each product to be applied in calculating the clock price for the lots of a product in a clock round.
          Note: The auction manager may vary the bid increment percentage set under this subclause, see clause 9.

      (2) Before the first clock round, the auction manager must notify the bid increment percentage for the lots of each product to each bidder.

      (3) The bid increment percentage may be different for different products and may be different for the same product between different clock rounds.

      (4) Before the first clock round, the auction manager must set a percentage (the eligibility requirement percentage) to be applied in calculating the activity target during each clock round.
          Note: The auction manager may vary the eligibility requirement percentage set under this subclause, see clause 10.

      (5) Before the first clock round, the auction manager must notify the eligibility requirement percentage to each bidder.

      (6) The eligibility requirement percentage may be different for different clock rounds.

      5 Schedule for clock rounds of the primary stage

      (1) Clock rounds must start and end between 9.00 am and 5.00 pm on working days, other than a recess day.

      (2) The scheduling of clock rounds between those times is at the auction manager's discretion.

      (3) There is no minimum or maximum length for a clock round, and no minimum or maximum length for the interval between clock rounds.

      (4) There is no upper or lower limit on the number of clock rounds per day.

      (5) Subject to section 50, the auction manager (using the auction system) will indicate to each bidder for the first clock round of a given day the anticipated schedule of clock rounds for that day at least 1 hour before the start time of the first clock round of the day.  However, the auction manager may, at any time, modify the schedule of clock rounds.  If this