48Default

48 Default

(1) If an applicant: (a) accepts the offer of a spectrum licence and agrees to pay the balance of the upfront pre-determined price for the licence; and (b) does not pay the balance of the upfront pre-determined price for the licence in accordance with section 45; then: (c) the spectrum licence is not allocated to the applicant; and (d) the allocation of spectrum licences under this instrument to other applicants is not affected; and (e) section 80 applies to spectrum that, but for this subsection, would have been allocated to the applicant. (2) If an applicant: (a) accepts the offer of a spectrum licence and agrees to pay the delayed pre-determined price for the licence; and (b) either, or both: (i) does not pay the first instalment in accordance with section 46; or (ii) does not give the ACMA the delayed pre-determined price bank guarantee in accordance with subsection 44(6); then: (c) the spectrum licence is not allocated to the applicant; and (d) the allocation of spectrum licences under this instrument to other applicants is not affected; and (e) section 80 applies to spectrum that, but for this subsection, would have been allocated to the applicant.

Note 1: If the applicant fails to pay an instalment other than the first instalment, the applicant may be in breach of the licence condition required to be included in a spectrum licence by section 67 of the Act.

Note 2: If either, or both, the second instalment and third instalment are not paid in accordance with section 46, the ACMA or the Commonwealth may require the authorised deposit-taking institution that has issued the delayed pre-determined price bank guarantee to pay the amount secured by the delayed pre-determined price bank guarantee.

Note 3: See section 90, in relation to the rights of the ACMA and the Commonwealth.