OpenLegislation

Regulation 21 Determination of bidder’s eligibility limit for the first primary bid round

Original text. Later amendments are not shown.

(1)

After the deadline specified in regulation 23(2) and before the start of the first primary bid round, OFCOM shall determine each bidder’s eligibility limit for the first primary bid round in accordance with the requirements of this regulation.

(2)

OFCOM shall divide by ten thousand the total amount of pounds that the bidder has on deposit (including the initial deposit and any additional sum paid under regulation 23, but not including any sum forfeited under regulation 64).

(3)

Where the number that results from the calculation in paragraph (2) is greater than forty-two, the eligibility limit shall be forty-two.

(4)

Where the number that results from the calculation in paragraph (2) is not greater than forty-two, the eligibility limit shall be—

(a)

that number, or

(b)

where the number is not a whole number, that number rounded down to the nearest whole number.