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PART 6 U.K.The principal stage

CHAPTER 1U.K.Principal stage rounds, principal stage forms, principal stage bids and round prices

Principal stage bidsU.K.

27.—(1) Each principal stage bid is a bid for the inclusion in a licence of one lot of a particular type at the round price for a lot of that type or, in the circumstances described in paragraph (2), at twice the round price for a lot of that type.

(2) The circumstances are where the principal stage bid becomes a winning principal stage bid after withdrawal of that bid's standing high bid status in accordance with regulation 39 or 40.