Document ID: chunk:federal_register_of_legislation:F2021L01155:reg:5
Version: federal_register_of_legislation:F2021L01155
Segment Type: reg
Provision Reference: reg 5
Character Range: 187084–188005

5  Schedule for clock rounds
 (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 auction manager must prepare an anticipated schedule for the clock rounds between those times.
 (3) There is no maximum or minimum length for a clock round, and no maximum or minimum length for the interval between two clock rounds.
 (4) There is no upper or lower limit on the number of clock rounds per day.
 (5) Subject to section 59, 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 occurs, the auction manager must tell each bidder in writing of the change as soon as practicable.