25The ACMA may vary prices and lot ratings

25  The ACMA may vary prices and lot ratings

Varying starting prices, lot ratings and set prices

 (1) Not less than 5 working days before the eligibility deadline, the ACMA may do one or more of the following:

 (a) vary a starting price set under paragraph 22(d);

 (b) if a starting price is varied, vary a lot rating set under paragraph 22(a);

 (c) vary a set price for a leftover lot set under paragraph 22(c).

Note 1: Varying a starting price or a set price relates to Division 7 of Part 5 of this instrument for the purposes of section 294 of the Act. Accordingly, paragraphs (1)(a) and (c) are disallowable under section 42 of the Legislation Act 2003.

Note 2: See Division 5 of Part 4 for the rules about updating application documents and inviting new applications if the ACMA exercises this power.

 (2) If the ACMA exercises a power under subsection (1), the ACMA must:

 (a) set a time and date to replace the application deadline (new application deadline); and

 (b) set a time and date to replace the eligibility deadline (extended eligibility deadline); and

 (c) approve a form (an updated eligibility nomination form) for applying for eligibility points and to be allocated leftover lots.

 (3) The new application deadline must be at least 20 working days after the day the ACMA exercised the power.

 (4) The extended eligibility deadline must be at least 30 working days after the new application deadline.

 (5) The updated eligibility nomination form must comply with subsection 23(2).

 (6) As soon as practicable after exercising a power under subsection (1), the ACMA must publish on its website a notice setting out the following:

 (a) if a starting price was varied—the details of the variation of the starting price;

 (b) if a lot rating was varied—the details of the variation of the lot rating;

 (c) if the set price for a leftover lot was varied—the details of the variation of the set price;

 (d) the date and time of the new application deadline;

 (e) the date and time of the extended eligibility deadline.

Division 2—Advertising the allocation process