The Wireless Telegraphy (Licence Award) Regulations 2025
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Change 1
30 The set of bids to be submitted if a bidder wishes to decrease demand for lots at the clock price in the current round
(1) In any principal stage round after the first round, if a bidder wishes to bid at the clock price for fewer lots of a particular type than the bidder’s notified posted demand number for that lot type, that bidder must— (a) specify a target number of lots on the auction system (within the time period for bidding) for that lot type which is lower than the bidder’s notified posted demand number for that lot type; (b) nominate a price on the auction system; and (c) submit the required set of bids. (2) The nominated price may be any price in whole thousands of pounds which is— (a) the opening price; (b) the clock price; or (c) any price level falling within the range of prices between the opening price and the clock price. (3) If a bidder specifies a target number of lots which is lower than that bidder’s notified posted demand number for that lot type by two or more lots, that bidder must also indicate on the auction system whether it wishes to submit either— (a) a simple set of bids to decrease demand; or (b) an all or nothing set of bids to decrease demand. (4) If a bidder specifies a target number of lots which is lower than that bidder’s notified posted demand number for that lot type by a single lot, that bidder must submit a simple set of bids to decrease demand. (5) The set of bids which must be submitted if the bidder submits a simple set of bids to decrease demand are those described in paragraphs (6), (7) and (8). (6) If the nominated price is the clock price, the set of bids are— (a) a bid for the target number of lots at the clock price; (b) a bid at every price level that exists from (and including) the opening price up to (and including) the clock price for all of the lots comprised within the bidder’s notified posted demand number; and (c) a bid for each quantity of lots (if any) which is higher than the target number of lots, and lower than the bidder’s notified posted demand number, at the nominated price. (7) If the nominated price is the opening price, the set of bids are— (a) a bid for the target number of lots at the opening price; (b) a bid for the target number of lots at every price level that exists from the opening price up to (and including) the clock price; and (c) a bid for all of the lots comprised within the bidder’s notified posted demand number at the opening price; and (d) a bid for each quantity of lots (if any) which is higher than the target number of lots and lower than the notified posted demand number for that bidder, at the opening price; (8) If the nominated price is higher than the opening price but lower than the clock price, the set of bids are— (a) a bid for the target number of lots at the nominated price; (b) a bid for the target number of lots at every price level which exists which is higher than the nominated price and up to and including the clock price; and (c) a bid for a quantity of lots equal to that bidder’s notified posted demand number at every price level that exists from (and including) the opening price up to (and including) the nominated price; and (d) a bid for each quantity of lots (if any) which is higher than the target number of lots and lower than that bidder’s notified posted demand number, at the nominated price. (9) The set of bids which must be submitted if the bidder submits an all or nothing set of bids to decrease demand are those described in paragraphs (10), (11) and (12). (10) If the nominated price is the clock price, the set of bids are— (a) a bid for the target number of lots at the clock price; and (b) a bid for all of the lots comprised within the bidder’s notified posted demand number at every price level that exists from (and including) the opening price up to (and including) the clock price. (11) If the nominated price is the opening price, the set of bids are— (a) a bid for the target number of lots at the opening price; (b) a bid for the target number of lots at every price level which exists which is higher than the opening price up to (and including) the clock price; and (c) a bid for a quantity of lots equal to the bidder’s notified posted demand number at every price level that exists from (and including) the opening price up to (and including) the clock price. (12) If the nominated price is higher than the opening price but lower than the clock price, the set of bids are— (a) a bid for the target number of lots at the nominated price; (b) a bid for the target number of lots at every price level which exists which is higher than the nominated price and up to (and including) the clock price; and (c) a bid for a quantity of lots equal to the bidder’s notified posted demand number at every price level that exists from (and including) the opening price up to (and including) the clock price. (13) A “set of bids to decrease demand” means a simple set of bids to decrease demand or an all or nothing set of bids to decrease demand.
30 The set of bids to be submitted if a bidder wishes to decrease demand for lots at the clock price in the current round
(1) In any principal stage round after the first round, if a bidder wishes to bid at the clock price for fewer lots of a particular type than the bidder’s notified posted demand number for that lot type, that bidder must— (a) specify a target number of lots on the auction system (within the time period for bidding) for that lot type which is lower than the bidder’s notified posted demand number for that lot type; (b) nominate a price on the auction system; and (c) submit the required set of bids. (2) The nominated price may be any price in whole thousands of pounds which is— (a) the opening price; (b) the clock price; or (c) any price level falling within the range of prices between the opening price and the clock price. (3) If a bidder specifies a target number of lots which is lower than that bidder’s notified posted demand number for that lot type by two or more lots, that bidder must also indicate on the auction system whether it wishes to submit either— (a) a simple set of bids to decrease demand; or (b) an all or nothing set of bids to decrease demand. (4) If a bidder specifies a target number of lots which is lower than that bidder’s notified posted demand number for that lot type by a single lot, that bidder must submit a simple set of bids to decrease demand. (5) The set of bids which must be submitted if the bidder submits a simple set of bids to decrease demand are those described in paragraphs (6), (7) and (8). (6) If the nominated price is the clock price, the set of bids are— (a) a bid for the target number of lots at the clock price; (b) a bid at every price level that exists from (and including) the opening price up to (and including) the clock price for all of the lots comprised within the bidder’s notified posted demand number; and (c) a bid for each quantity of lots (if any) which is higher than the target number of lots, and lower than the bidder’s notified posted demand number, at the nominated price. (7) If the nominated price is the opening price, the set of bids are— (a) a bid for the target number of lots at the opening price; (b) a bid for the target number of lots at every price level that exists from the opening price up to (and including) the clock price; and (c) a bid for all of the lots comprised within the bidder’s notified posted demand number at the opening price; and (d) a bid for each quantity of lots (if any) which is higher than the target number of lots and lower than the notified posted demand number for that bidder, at the opening price; (8) If the nominated price is higher than the opening price but lower than the clock price, the set of bids are— (a) a bid for the target number of lots at the nominated price; (b) a bid for the target number of lots at every price level which exists which is higher than the nominated price and up to and including the clock price; and (c) a bid for a quantity of lots equal to that bidder’s notified posted demand number at every price level that exists from (and including) the opening price up to (and including) the nominated price; and (d) a bid for each quantity of lots (if any) which is higher than the target number of lots and lower than that bidder’s notified posted demand number, at the nominated price. (9) The set of bids which must be submitted if the bidder submits an all or nothing set of bids to decrease demand are those described in paragraphs (10), (11) and (12). (10) If the nominated price is the clock price, the set of bids are— (a) a bid for the target number of lots at the clock price; and (b) a bid for all of the lots comprised within the bidder’s notified posted demand number at every price level that exists from (and including) the opening price up to (and including) the clock price. (11) If the nominated price is the opening price, the set of bids are— (a) a bid for the target number of lots at the opening price; (b) a bid for the target number of lots at every price level which exists which is higher than the opening price up to (and including) the clock price; and (c) a bid for a quantity of lots equal to the bidder’s notified posted demand number at every price level that exists from (and including) the opening price up to (and including) the clock price. (12) If the nominated price is higher than the opening price but lower than the clock price, the set of bids are— (a) a bid for the target number of lots at the nominated price; (b) a bid for the target number of lots at every price level which exists which is higher than the nominated price and up to (and including) the clock price; and (c) a bid for a quantity of lots equal to the bidder’s notified posted demand number at every price level that exists from (and including) the opening price up to (and including) the clock price. (13) A “set of bids to decrease demand” means a simple set of bids to decrease demand or an all or nothing set of bids to decrease demand.
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