Regulation 94 Assignment stage bid depositI1

Each bidder that makes an assignment stage bid must, by a deadline specified by OFCOM (which shall be after the end of the assignment stage round), pay into OFCOM’s bank account by a same day electronic transfer, with accompanying information which identifies the bidder, a further sum in pounds as a deposit so that the total amount the bidder has on deposit is an amount that is not less than the amount (“d”) calculated in accordance with the formula set out in paragraph (2).

The formula is—

$$d=b+a_1+a_2+a_3$$

where—

1. (a)

   “b” is the amount of the base price of the bidder’s winning principal stage bid (determined in accordance with regulation 68);

2. (b)

   “a₁” is the amount of the highest assignment stage bid made by the bidder for an assignment stage option in relation to numbered 800 MHz paired frequency lots;

3. (c)

   “a₂” is the amount of the highest assignment stage bid made by the bidder for an assignment stage option in relation to numbered 2.6 GHz paired frequency lots;

4. (d)

   “a₃” is the amount of the highest assignment stage bid made by the bidder for an assignment stage option in relation to numbered 2.6 GHz individual frequency lots.