Communications Act 2003

[F1 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 [F2 , 17 and 17A] (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.]

Textual Amendments

F1 Sch. 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)

F2 Words in Sch. 3A para. 24(3)(b) substituted (17.4.2023) by Product Security and Telecommunications Infrastructure 2022 (c. 46), ss. 59(4), 79(2); S.I. 2023/109, reg. 3(b)

Modifications etc. (not altering text)

C1 Sch. 3A para. 24 applied (with modifications) (E.W.) (11.8.2022) by The Sizewell C (Nuclear Generating Station) Order 2022 (S.I. 2022/853), art. 1, Sch. 18 para. 4(4) (with arts. 62, 76, 87)