Bid and offer provisions of the Code
Background on bid and offer revision
The bid and offer revision provisions in the Code are unclear, open to interpretation and difficult to enforce. This means extra monitoring and reporting for participants and Authority staff, which incur associated administration costs. The Authority’s Compliance Committee, at its meeting of 3 May 2012, asked that these provisions be reviewed. This work was included in the Authority’s 2013/14 work programme.
The review of gate closure was included in the 2014/15 work programme.