16Procedure for dealing with financial offers

16 Procedure for dealing with financial offers

(1) This section applies if the Minister invites, under subsection 15(2), the applicants whose applications are in a financial offer group to submit financial offers in relation to their applications. Dealing with financial offers (2) The Minister may only offer to grant a feasibility licence to: (a) the applicant that has submitted the highest financial offer out of the applications in the financial offer group; or (b) if, as a result of the operation of subsection (5), there is only one application in the financial offer group—the applicant for that application. (3) If there is no single highest financial offer because 2 or more applicants (the tied applicants) have submitted equal financial offers, the Minister may do any of the following: (a) if a tied applicant’s application does not overlap any other tied applicant’s application—offer to grant a feasibility licence to that tied applicant; (b) for any tied applicants whose applications overlap each other—invite those tied applicants to submit increased financial offers; (c) if an invitation under paragraph (b) does not result in there being a single highest financial offer because the financial offers of 2 or more of the tied applicants are equal—offer to grant a feasibility licence to any of those tied applicants, as the Minister thinks fit. (4) Subsections 15(3) and (4) apply in relation to an invitation under subsection (3)(b) of this section, and any financial offer submitted in response to such an invitation, as if the invitation were an invitation under subsection 15(2). (5) If: (a) the Minister offers to grant a feasibility licence to an applicant whose application is in the financial offer group; and (b) any of the following occurs: (i) the feasibility licence is granted; (ii) the applicant withdraws the application; (iii) the application lapses; (iv) the feasibility licence is not granted for some other reason (including because the applicant does not pay a financial offer in relation to the application); and (c) after that occurrence, a feasibility licence could be offered in respect of at least one of the other applications in the financial offer group; this section applies again to the remaining application or applications mentioned in paragraph (c) as if that application, or those applications, comprised a financial offer group.

Note: For example, if applications A, B and C are in a financial offer group, and:

(a) applications A and B overlap each other; and
(b) applications B and C overlap each other; and
(c) applications A and C do not overlap each other; and
(d) the Minister invites each applicant to submit a financial offer; and
(e) applicant A submits the highest offer;

Note: then: