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Regulation 12 Payment

Original text. Later amendments are not shown.

(1)

Each bidder shall pay to OFCOM the sum specified in its provisional award notice by the time specified in that notice.

(2)

That sum shall be paid into OFCOM’s bank account by a same day electronic transfer, with accompanying information which identifies the bidder.

(3)

If a bidder fails to make payment in accordance with this regulation it shall —

(a)

not be entitled to the grant of a licence; and

(b)

not receive a refund of its initial deposit, which shall (where it has not already been forfeited under regulation 31) be forfeited.