OpenLegislation

Regulation 21 Amount of bids

Original text. Later amendments are not shown.

(1)

A bid made during the first round shall be at an amount in whole pounds that is—

(a)

at least ten thousand pounds; and

(b)

not more than the amount of the round price for the first round.

(2)

A bid made during a subsequent round shall be at an amount in whole pounds that is—

(a)

more than the amount of the round price for the preceding round; and

(b)

not more than the amount of the round price for that round.