Document ID: chunk:federal_register_of_legislation:C2024C00823:section:1
Version: federal_register_of_legislation:C2024C00823
Segment Type: section
Provision Reference: s 1
Character Range: 576857–578486

1  The basis on which compensation is payable
 (1) If a spectrum licence or a part of a spectrum licence is resumed under section 91, the compensation payable to the licensee under section 93 and this Part is compensation for:
 (a) the market value of the licence, or the part of the licence, on the day before the day on which the pre‑acquisition declaration was published; and
 (b) any loss, injury or damage suffered, or expense reasonably incurred, as a direct, natural and reasonable consequence of the resumption.
 (2) The market value of the licence, or the part of the licence, at a particular time is the amount that would have been paid for it if it had been sold at that time by a willing but not anxious seller to a willing but not anxious buyer.
 (3) If the market value is assessed upon the basis that the licence, or the part of the licence, had potential to be used for a purpose other than the purpose for which it was used at the relevant time, compensation is not payable in respect of any loss or damage that would necessarily have been suffered, or expense that would necessarily have been incurred, in realising that potential.
 (4) If:
 (a) a pre‑acquisition declaration is published for resumption of a spectrum licence or a part of a spectrum licence; and
 (b) the pre‑acquisition declaration is revoked before the resumption takes place;
the compensation payable to the licensee under section 93 and this Part is compensation for any loss, injury or damage suffered, or expense reasonably incurred, as a direct, natural and reasonable consequence of the publication of the pre‑acquisition declaration.