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Communications Act 2003

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Changes over time for: Cross Heading: How is consideration to be determined under paragraph 23?

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Communications Act 2003, Cross Heading: How is consideration to be determined under paragraph 23? is up to date with all changes known to be in force on or before 31 March 2020. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

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Changes and effects yet to be applied to Schedule 3A Part 4 Crossheading How-is-consideration-to-be-determined-under-paragraph-23:

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[F1How is consideration to be determined under paragraph 23?U.K.

Textual Amendments

F1Sch. 3A inserted (31.7.2017 for the purpose of making regulations under Sch. 3A para. 95, 22.11.2017 but only in relation to Sch. 3A para. 106, 28.12.2017 in so far as not already in force) by Digital Economy Act 2017 (c. 30), s. 118(6), Sch. 1 (with Sch. 2); S.I. 2017/765, reg. 2(ii)(jj); S.I. 2017/1136, reg. 2; S.I. 2017/1286, reg. 2(b)

24(1)The amount of consideration payable by an operator to a relevant person under an agreement imposed by an order under paragraph 20 must be an amount or amounts representing the market value of the relevant person's agreement to confer or be bound by the code right (as the case may be).U.K.

(2)For this purpose the market value of a person's agreement to confer or be bound by a code right is, subject to sub-paragraph (3), the amount that, at the date the market value is assessed, a willing buyer would pay a willing seller for the agreement—

(a)in a transaction at arm's length,

(b)on the basis that the buyer and seller were acting prudently and with full knowledge of the transaction, and

(c)on the basis that the transaction was subject to the other provisions of the agreement imposed by the order under paragraph 20.

(3)The market value must be assessed on these assumptions—

(a)that the right that the transaction relates to does not relate to the provision or use of an electronic communications network;

(b)that paragraphs 16 and 17 (assignment, and upgrading and sharing) do not apply to the right or any apparatus to which it could apply;

(c)that the right in all other respects corresponds to the code right;

(d)that there is more than one site which the buyer could use for the purpose for which the buyer seeks the right.

(4)The terms of the agreement may provide for consideration to be payable—

(a)as a lump sum or periodically,

(b)on the occurrence of a specified event or events, or

(c)in such other form or at such other time or times as the court may direct.]

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