Paragraph 1

(1)

It shall be the duty of F1OFCOM to draw up, and from time to time review, a statement setting out the principles to be followed in ascertaining the qualifying revenue for any accounting period of a licence holder for the purposes of any provision of Part III of this Act.

(2)

A statement under this paragraph may set out different principles for persons holding different kinds of licences.

(3)

Before drawing up or revising a statement under this paragraph OFCOM shall consult the Secretary of State and the Treasury.

(4)

OFCOM shall—

(a)

publish the statement drawn up under this paragraph and every revision of that statement; and

(b)

transmit a copy of that statement, and every revision of it, to the Secretary of State;

and the Secretary of State shall lay copies of the statement and of every such revision before each House of Parliament.

Annotations

Textual amendments

F1: Words in Sch. 7 Pt. II substituted (29.12.2003) by Communications Act 2003 (c. 21), s. 411(2), Sch. 15 para. 72(3) (with Sch. 18); S.I. 2003/3142, art. 3(1), Sch. 1 (with art. 11)