Regulation 48 Assignment stage bid deposit
Each bidder that makes an assignment stage bid must, by a deadline specified by OFCOM, pay into OFCOM’s bank account by a same day electronic transfer, with accompanying information which identifies the bidder, a further sum in pounds as a deposit so that the total amount the bidder has on deposit (including the initial deposit, any sum paid as a deposit under regulation 23, 33 or 40 and any sum paid as a deposit under this paragraph, but not including any sum forfeited under regulation 64) is an amount that is not less than the amount, d, calculated in accordance with the formula set out in paragraph (2).
The formula is—
where—
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“b” is the amount of the base price of the bidder’s winning principal stage bid (determined in accordance with regulation 42);
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“a” is, in respect of each band to which the assignment stage round relates, the amount of the highest assignment stage bid made by the bidder for a paired frequency range in that band.
Where a bidder does not satisfy the provisions set out in paragraph (1)—
all of the assignment stage bids submitted by the bidder in the assignment stage round shall be deemed to be invalid and shall not be taken into consideration for the purposes of determining—
the winning combination of assignment stage bids under regulation 57;
the additional price payable by a winning bidder under regulation 58;