If one of the conditions set forth under Regulation .04C of this chapter exists, as promptly as possible, the procurement officer shall: Issue an invitation for revised auction bids, which shall state whether the award will be made without competitive negotiations; and Require a prompt response to that invitation. An invitation for revised auction bids is not subject to the notice requirements in Regulation .02C of this chapter. After revised bids have been submitted, negotiations with bidders may not be conducted unless the procurement officer determines that there is a compelling reason to negotiate. After revised bids have been received and any approvals required by law or regulation have been obtained, the procurement officer shall award the procurement contract to the responsible bidder who submits a responsive bid that: Is the lowest bid price; or If the invitation for revised bids so provides, is the lowest evaluated bid price.