The Wireless Telegraphy (Licence Award) Regulations 2012

Further deposit for supplementary bids round

66.—(1) By the deadline notified to bidders under regulation 60(b), each bidder must pay into OFCOM’s bank account a further sum in pounds as a deposit so that the total amount the bidder has on deposit is not less than—

(a) where a bidder has on all occasions paid sums for deposit by the time specified for payment by OFCOM under regulation 59, a proportion specified by OFCOM, which is at most one half, of the amount of the bidder’s highest valid principal stage bid; or

(b) where a bidder has not on all occasions paid sums for deposit by the time specified for payment by OFCOM under regulation 59, the amount of the bidder’s highest valid principal stage bid.

(2) The further sum must be paid into OFCOM’s bank account by a same day electronic transfer with accompanying information which identifies the bidder.

(3) Where a bidder does not so make payment, OFCOM shall notify the bidder and the bidder shall be excluded from the award process and shall not receive a refund of any sums which the bidder paid as a deposit under these Regulations, which shall (where not already forfeited) be forfeited together with any interest which has accrued on the deposit, and all of that bidder’s principal stage bids shall be deemed to be invalid and shall not be taken into consideration for the purposes of determining—

(a) the winning principal stage bids in accordance with regulation 67;

(b) the base price payable by a winning bidder in accordance with regulation 68.