Radiocommunications (Spectrum Licence Allocation—3.4/3.7 GHz Bands) Determination 2023
94Bid increment percentage for primary stage
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94 Bid increment percentage for primary stage
Auction manager must set bid increment 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.
(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.
Auction manager may change bid increment percentage during primary stage
(4) The auction manager may, at any time during the primary stage, change the bid increment percentage for the lots of a product in a clock round.
(a) tell each bidder (other than a bidder who did not enter a positive start demand for any product) in writing of the proposed change; and
(b) ask each such bidder to provide comments on the proposal within the time (being not less than 1 hour) set by the auction manager; and
(6) The auction manager must notify each bidder (other than a bidder who did not enter a positive start demand for any product) of the change before the clock round for which the change takes effect.