# The Wireless Telegraphy (Licence Award) Regulations 2012, Paragraph 2

Extent: E+W+S+N.I.

The base price for each winning principal stage bid shall be—
(a) no less than the total of the round prices in the first primary bid round for the lots included in the selection of lots specified in that winning principal stage bid; and
(b) no greater than the amount of that winning principal stage bid.

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Source: https://www.legislation.gov.uk/uksi/2012/2817/schedule/7/paragraph/2 (the official version)
Page: https://openlegislation.uk/wireless-telegraphy-licence-award-regulations-2012/schedule-7/paragraph-2
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.