Regulation 11 Payment of licence fee
Where there is only one bidder, OFCOM shall give notice to that bidder of the day by which that bidder must pay into OFCOM’s bank account with accompanying information that identifies the bidder, a sum determined in accordance with paragraph (3).
The licence fee shall be fifty thousand pounds.
The sum which that bidder shall pay to OFCOM shall be—
where the initial deposit has not been forfeited in accordance with regulation 26, a sum equal to the licence fee less the initial deposit;
where the initial sum has been so forfeited, a sum equal to the licence fee.
If the bidder fails to make payment in accordance with this regulation it shall—
not be entitled to the grant of the licence; and
not receive a refund of its initial deposit, which shall (where it has not already been forfeited under regulation 26) be forfeited.