Document ID: chunk:federal_register_of_legislation:F2016L01970:reg:48
Version: federal_register_of_legislation:F2016L01970
Segment Type: reg
Provision Reference: reg 48
Character Range: 59598–61453

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.