Regulation 19 Determination of round prices for primary round bids

(1)

In the first primary bid round, the round price for each lot shall be the amount set out in Schedule 4.

(2)

In subsequent primary bid rounds, the round price for each lot shall be determined by OFCOM in accordance with paragraphs (3) or (5) (as the case may be).

(3)

Where a further primary bid round occurs—

(a)

the round price for any lot where that lot was included in more than one bid in the previous primary bid round;

(b)

the round price for any lot where that lot was only included in one bid in the previous primary bid round where—

(i)

one of the lots immediately adjacent to that lot was only included in one other bid; and

(ii)

these two bids specified different choices of licence condition; and

(c)

the round price for any lot where that lot was only included in one bid in the previous primary bid round where—

(i)

one of the lots immediately adjacent to that lot was not included in any bid;

(ii)

the next immediately adjacent lot was only included in one other bid; and

(iii)

these two bids specified different choices of licence condition;

shall be an amount that is higher than the amount that was the round price for that lot in the previous primary bid round, subject to the limitation in paragraph (4).

(4)

In the circumstances described in paragraph (3), the amount of the round price for the lot shall not be more than twice the amount of the round price for that lot in the previous primary bid round.

(5)

The amount of the round price for any lot not included in the circumstances described in paragraph (3), shall be the same amount as it was in the previous primary bid round.