Part 3Allocation for a Pre-determined Price

Part 3 Allocation for a Pre-determined Price

3.1 Allocation for a pre-determined price without an auction

(1) If the ACA considers that it may be able to allocate a lot or lots without having to conduct an auction to identify the highest value user for the SLs represented by those lots, the ACA will offer to allocate the lot or lots for a pre-determined price, as set out in this Part.

(2) The offer of an SL under this Part will be conditional on payment of the pre-determined price and the entering into of a Deed of Agreement by the applicant.

3.2 The pre-determined price

(1) The pre-determined price for an SL is the starting bid for the lot comprising the SL.

Note The starting bid is set by the ACA under section 2.17.

(2) The balance of the pre-determined price payable by an applicant for an SL is the pre-determined price less the amount of the eligibility payment and performance payment (if any) paid by the applicant.

3.3 ACA must have regard to applicants’ requirements

In deciding for subsection 3.4(1) whether it may be able to offer an SL and allocate a lot or lots without an auction, and in identifying a lot or lots for subsection 3.1(1), the ACA must only have regard to:

(a) each applicant’s indication, in the application form, of the lot the applicants require; and

(b) any other information the ACA may require that the applicants provide about the lots.

3.4 Offer of an SL

(1) The ACA will offer each applicant an SL for one of the lots identified under subsection 3.1(1).

(2) The ACA will send each applicant, by receipted mail:

(a) a draft of the SL; and

(b) a notice stating:

(i) that the applicant is offered an SL for the lot identified under subsection 3.1(1); and

(ii) the amount of the pre-determined price payable for the SL; and

(iii) the amount of the eligibility payment and performance payment (if any) made by the applicant and held by the ACA; and

(iv) the balance of the pre-determined price payable for the SL; and

(v) that the offer is conditional on each other applicant (if any) accepting the SL offered or telling the ACA that it withdraws its application for a lot.

(3) An applicant who wishes to accept the ACA’s offer must do so by notifying the ACA in writing within 10 days of receiving the offer, agreeing to pay the balance of the pre-determined price and to enter into a Deed of Agreement.

(4) If every applicant accepts the SL offered to the applicant, each applicant is entitled to be issued the SL offered on payment of the balance of the pre-determined price and the entering into of a Deed of Agreement by the applicant in accordance with this determination.