Regulation 26 The price range
(1)
The price range notified by OFCOM must specify in respect of each lot type—
(a)
the lowest price (“the opening price”) in the range; and
(b)
the highest price (“the clock price”) in the range.
(2)
The opening price in a round shall be—
(a)
a price per lot in whole thousands of pounds;
(b)
the same for each lot within that lot type; and
(c)
the same as the posted price for that lot type notified by OFCOM following the most recent round.
(3)
The clock price in a round shall be—
(a)
a price per lot in whole thousands of pounds;
(b)
the same for each lot within that lot type; and
(c)
higher than the opening price for that lot type.