# The Wireless Telegraphy (Licence Award) (No. 2) Regulations 2007, Paragraph 3


(1) Taking the base prices for the winning principal stage bids together, the base prices shall be such that if—
(a) the amount bid by each winning bidder for the selection of lots in its winning principal stage bid had been the base price rather than the amount of its winning principal stage bid (“reduced winning principal stage bid”), and
(b) the amount bid by each winning bidder in respect of each other valid principal stage bid made by that bidder had been reduced by an amount equal to the difference between the amount of its winning principal stage bid and the base price for that winning principal stage bid,
the combination of the reduced winning principal stage bids submitted by the winning bidders would have been the valid combination of principal stage bids or one of the valid combinations of principal stage bids (as the case may be) having the highest total value of amounts bid.
(2) The bids mentioned in sub-paragraph (1)(a) and (b) shall, after reduction of the amount of those bids in accordance with those paragraphs, be treated as valid principal stage bids for the purposes of this paragraph.

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Source: https://www.legislation.gov.uk/uksi/2007/3380/schedule/8/paragraph/3 (the official version)
Page: https://openlegislation.uk/wireless-telegraphy-licence-award-no-2-regulations-2007/schedule-8/paragraph-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.