4.10

(e) the registered applicant must initiate a file transfer of the bidding instruction file to the ACA’s auction computer system;

(f) once the bidding instruction file is authenticated, the ACA’s auction centre computer will generate a receipt file which will be returned to the registered applicant during the connection;

(g) the ACA’s auction computer system will process the bidding instructions contained in the bidding instruction file.

(2) Details of procedures for bid transmission and authentication are set out in Schedule 1.

4.10 Emergency telephone bidding procedure

(1) The procedure for emergency telephone bidding is as follows:

(a) a registered applicant must use the telephone number notified by the auction manager as the number for telephone bidding;

(b) the registered applicant’s call will be taken by an ACA operator;

(c) the registered applicant must quote the bidder identification number and transaction code key, as described in Schedule 1, assigned to the applicant by the ACA;

(d) the registered applicant must meet any additional identification requirements imposed by the ACA, as set out in Schedule 1;

(e) the ACA must enter the bidding instructions, as directed by the registered applicant, into the auction computer system as soon as practicable;

(f) the time that bidding instructions contained in a bidding instruction file are made is taken to be the time that the file was authenticated by the ACA’s auction computer system;

(g) the ACA must print out a confirmation of the bidding instructions from the auction computer system;

(h) the ACA must send this to the registered applicant by fax, if the applicant has nominated a fax number;

(i) the ACA must process the bidding instructions in the same way as it processes the bids made electronically by registered applicants.

(2) Details of the procedures for bid transmission and authentication are set out in Schedule 1.

4.11 Identification of registered applicants

(1) A registered applicant must use its bidder identification number when bidding, and must comply with the other identification requirements set out in Schedule 1.

(2) If the auction manager tells registered applicants to use additional identification, they must do so.

4.12 Starting and minimum bids

(1) A bid on a lot below the starting bid for that lot will not be accepted.

Note For starting bids, see section 2.17.

(2) After a starting bid has been made on a lot in a round, a bid on the lot below the minimum bid for that lot in a later round will not be accepted.