123Exclusion from further participation

123  Exclusion from further participation

Failure to pre‑bid

 (1) If a bidder does not make a valid pre‑bid on a lot in the pre‑bidding round of the secondary stage, the bidder cannot make a bid on that lot in any round of the secondary stage.

Failure to bid

 (2) If a bidder does not make a valid bid on a lot in a round of the secondary stage, the bidder cannot make a bid on that lot in a later round of the secondary stage.

Unsuccessful exit bid

 (3) A bidder cannot make a bid on a lot in a round of the secondary stage if, in an earlier round of the secondary stage:

 (a) the bidder made an exit bid on the lot; and

 (b) 2 or more other bidders made a continue bid on the lot.

Note: If the only bids on a lot are exit bids, or only one continue bid is made in addition to any exit bids, Subdivision D of this Division applies.