31Notice to registered applicant

31 Notice to registered applicant

(1) Within 25 business days after the closing date, the ACMA must give the registered applicant for the particular lot a notice, setting out:

(a) that the applicant is the successful applicant (the successful applicant); and

(b) the amount of the reserve price for the lot; and

(c) the last day when the successful applicant may pay the reserve price or withdraw the application.

(2) Within 10 business days after the date of the notice the successful applicant must either:

(a) pay the reserve price for the lot in accordance with section 40; or

(b) advise the ACMA in writing that the application has been withdrawn.

Note: If an application is withdrawn under paragraph 31(2)(b), entry fees are not refundable: see paragraph 42(1)(c).