Regulation 55 Required final principal stage depositI1

United Kingdom

(1)

After the final principal stage round, a further sum in pounds must be paid into OFCOM's bank account with accompanying information which identifies the bidder, by a deadline specified by OFCOM (“required final principal stage deposit”).

(2)

In respect of any bidder, the required final principal stage deposit shall be an amount such that the total amount that the bidder has on deposit is not less than the amount which is the sum of—

(a)

that bidder's total 3.6 GHz base price;

(b)

that bidder's total 700 MHz individual frequency lot base price; and

(c)

that bidder's total 700 MHz paired frequency lot base price.

(3)

Where a bidder does not satisfy the requirements set out in paragraph (1)—

(a)

OFCOM shall notify the bidder; and

(b)

the bidder shall not be excluded from the award process, but may not make assignment stage bids, may not participate in any negotiation period and will be deemed to have made valid assignment stage bids with a value of zero pounds for its assignment stage options.

Annotations

Commencement

I1: Reg. 55 in force at 18.11.2020, see reg. 1(1)