{
  "url": "https://openlegislation.uk/wireless-telegraphy-licence-award-regulations-2008/schedule-6/paragraph-5",
  "json_url": "https://openlegislation.uk/wireless-telegraphy-licence-award-regulations-2008/schedule-6/paragraph-5.json",
  "legislation": "uksi/2008/686",
  "legislation_title": "The Wireless Telegraphy (Licence Award) Regulations 2008",
  "legislation_url": "https://openlegislation.uk/wireless-telegraphy-licence-award-regulations-2008",
  "path": "schedule/6/paragraph/5",
  "kind": "paragraph",
  "number": "5",
  "heading": null,
  "text": "(1) Taking the winning prices for the winning auction stage bids together, the opportunity cost variance of those winning prices calculated in accordance with sub-paragraph (2) shall be less than the opportunity cost variance of any other prices for the winning auction stage bids that satisfy the requirements set out in paragraphs 2 to 4 calculated in accordance with sub-paragraph (2).\n(2) The opportunity cost variance (“ OCV ”) of the prices mentioned in sub-paragraph (1) is the amount calculated in accordance with the formula—\nOCV= ∑ (p −c ) 2 where—\n“p” means the price for a winning auction stage bid; and\n“c” means the amount calculated in accordance with the formula set out in sub-paragraph (3) in respect of that winning auction stage bid.\n(3) The formula is—\nc=u−t+b where—\n“u” means the amount calculated in accordance with sub-paragraph (4);\n“t” means the total amount of the winning auction stage bids; and\n“b” means the amount of the winning auction stage bid for which p is the price.\n(4) The amount calculated in accordance with this sub-paragraph is the total amount of the valid combination of auction stage bids or one of the valid combinations of auction stage bids (as the case may be) having the highest total value of amounts bid, where the auction stage bids to be included in the valid combination of auction stage bids do not include any of the auction stage bids made by the winning bidder that submitted the winning auction stage bid for which p is the price.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/uksi/2008/686/schedule/6/paragraph/5",
    "retrieved_at": "2026-10-29T03:33:57.551670+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}