81Retention of deposit or enforcement of deed for breach of procedures

81 Retention of deposit or enforcement of deed for breach of procedures

(1) The ACMA on behalf of the Commonwealth may retain a deposit made by an applicant or bidder, or enforce a deed of financial security given by an applicant or bidder; if: (a) the ACMA is satisfied that: (i) the applicant or bidder, or a related person of the applicant or bidder, breached a provision of this instrument; and (ii) the breach affected, or may have affected, the outcome of the allocation process; or (b) the applicant failed to pay the balance of the pre-determined price as required under section 44; or (c) the bidder is a winning bidder who failed to give the statement required under section 65; or (d) the bidder is a winning bidder who failed to pay the balance of the winning price as required under section 71; or (e) the ACMA is satisfied that the applicant or bidder, or a related person of the applicant or bidder, breached the confidentiality obligations under section 17 after the end of the auction period (but before the confidentiality obligations came to an end); or (f) the applicant or bidder failed to comply with a requirement in a notice given under subsection 78(1). (2) The ACMA must notify the applicant or bidder, in writing, of a decision under subsection (1) and the nature of the breach or failure before the later of: (a) 6 months after: (i) if notice was given to the applicant under subsection 44(1) – the day the notice was given; or (ii) in any other case – the end of the auction period; and (b) 6 months after the day on which the breach or failure mentioned in subsection (1) occurred. (3) A deposit retained under this section, or an amount obtained through enforcement of a deed of financial security, is forfeited to the Commonwealth unless the Federal Court orders the return of the amount under section 84.