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The Wireless Telegraphy (Licence Award) Regulations 2018

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Required final principal stage deposit

64.—(1) After the final principal stage round, a further sum in pounds must be paid into OFCOM’s bank account with accompanying information which identifies the bidder, by a deadline specified by OFCOM (“required final principal stage deposit”).

(2) In respect of any bidder, the required final principal stage deposit shall be an amount such that the total amount that the bidder has on deposit is not less than the amount which is the sum of—

(a)that bidder’s total 2.3 GHz base price A;

(b)that bidder’s total 3.4 GHz base price A;

(c)one half of that bidder’s total 2.3 GHz base price B; and

(d)one half of that bidder’s total 3.4 GHz base price B.

(3) Where a bidder does not satisfy the requirements set out in paragraph (1)—

(a)OFCOM shall notify the bidder; and

(b)the bidder shall not be excluded from the award process, but may not make assignment stage bids and will be deemed to have made valid assignment stage bids with a value of zero pounds for its assignment stage options.

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