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The Wireless Telegraphy (Licence Award) (No. 2) Regulations 2006
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- UK Statutory Instruments
- 2006 No. 1806
- PART 5
- Regulation 19
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Bid deposit
19.—(1) In addition to the initial deposit paid at the time of application, a bidder must, on the day specified for delivery of sealed bids under regulation 15, pay into OFCOM’s bank account by a same day electronic transfer, with accompanying information which identifies the bidder, a further sum in pounds as a deposit.
(2) The further sum to be paid under paragraph (1) shall —
(a)where the initial deposit has not been forfeited in accordance with regulation 27, be a sum representing the difference between —
(i)the bidder’s initial deposit; and
(ii)the highest sum which that bidder has specified on the bidding menu document against any of the licences; or
(b)where the initial deposit has been forfeited in accordance with regulation 27, be a sum equal to the highest sum which that bidder has specified on the bidding menu document against any of the licences.
(3) The total amount on deposit after payment of the further sum constitutes the bid deposit.
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