35Liability for failure to comply with auction payment requirements

35 Liability for failure to comply with auction payment requirements

(1) If a successful applicant does not pay the balance of the bid price, in accordance with this instrument:

(a) the applicant ceases to be entitled to be allocated the lot and the transmitter licence in relation to the lot; and

(b) the auction deposit is forfeited; and

(c) the applicant is taken to be in default of its financial obligations to the ACMA, on behalf of the Commonwealth, under this instrument and is liable to pay to the ACMA, on behalf of the Commonwealth, the default amount which shall be 10 percent of the bid price; and

(d) the lot may be treated as an unallocated lot under section 28.

(2) The total of the default amount payable to the ACMA, on behalf of the Commonwealth, under this section:

(a) is a debt due to the ACMA, on behalf of the Commonwealth; and

(b) is recoverable by the ACMA, on behalf of the Commonwealth, from the successful applicant in a court of competent jurisdiction.