17Determination of primary winners and primary prices

17 Determination of primary winners and primary prices

(1) A bidder who has posted demands for a lot or lots of a product (the allocated lot) as a result of the final clock round in the primary stage is a primary winner in the primary stage for the lot or lots of the product.

 (2) The total posted price, for a primary winner, for an allocated lot or lots of a product in the primary stage is an amount equal to the posted price for a lot of the product for the final clock round multiplied by the number of lots comprising the posted demand of the primary winner for that product.

 (3) The primary price to be paid by a primary winner for all the allocated lots of each product of the primary winner is the sum of all the primary winner’s total posted prices.

 (4) The primary price calculated under subclause (3) must be rounded up to the next hundred.

Note: This clause relates to Division 2 of Part 6 of this instrument for the purposes of section 294 of the Act and is disallowable under section 42 of the Legislation Act 2003.

Part 6—Bringing the primary stage to an end