§ 585.221. What general provisions apply to all auctions?
208 words·~1 min read·
/us/cfr/t30/s§ 585.221·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
(a)If BOEM determines competitive interest exists to develop a renewable energy resource in any OCS area and decides to issue a lease for that area, BOEM will conduct an auction to award the lease.
(b)The auction's format, procedures, and other details will be specified in the FSN, as outlined in § 585.214. Possible auction formats include, but are not limited to, sealed bidding and ascending bidding.
(c)The FSN will specify the potential use of alternatives if the primary auction method, system, or mechanism malfunctions. Alternatively, BOEM may take action consistent with paragraph
(d)of this section until the malfunction is resolved.
(d)Any time before a provisional winner is determined, BOEM may delay, suspend, or cancel an auction due to a natural or man-made disaster, technical malfunction, security breach, unlawful bidding activity, administrative necessity, or any other reason that BOEM determines may adversely affect the fair and efficient conduct of the auction. In its discretion, BOEM may restart the auction at whatever point it deems appropriate, reasonable, fair, and efficient for all participants; or, alternatively, BOEM may cancel the auction in its entirety.
(e)BOEM will determine the provisional winner for each lease area under the auction rules and bidding procedures prescribed in the FSN.
Connections1 cite this
Cited by 1 section
register
Citation graph
cites case law
§ 585.221
What general provisions apply to all auctions?
Fed. Reg.×1
Cites 0Cited by 1 across 1 source