Regulation 32 Procedure where amount of winning bidder’s deposit is less than the licence fee
Where the amount of the winning bidder’s deposit (including the initial deposit and any sum paid as a deposit under regulation 29, but not including any sum forfeited under regulation 36) is an amount that is less than the amount of the licence fee calculated in accordance with regulation 30—
OFCOM shall notify the bidder of a deadline by when the bidder must comply with sub-paragraph (b); and
the winning bidder must by that deadline pay into OFCOM’s bank account by a same day electronic transfer, with accompanying information which identifies the winning bidder, a sum in pounds calculated in accordance with paragraph (2).
The sum which the bidder must pay to OFCOM shall be the difference between the amount of the licence fee calculated in accordance with regulation 30 and the amount of the winning bidder’s deposit (including the initial deposit and any sum paid as a deposit under regulation 29, but not including any sum forfeited under regulation 36).
Where the winning bidder has satisfied the requirement set out in paragraph (1)(b), OFCOM shall grant the winning bidder the licence.
Where the winning bidder has not satisfied the requirement set out in paragraph (1)(b), that bidder—
shall not be entitled to the grant of the licence under these Regulations; and
shall not receive a refund of its initial deposit and any sum paid as a deposit under regulation 29, which shall (where not already forfeited under regulation 36) be forfeited.