Document ID: chunk:federal_register_of_legislation:F2018L01065:schedule:3:p25
Version: federal_register_of_legislation:F2018L01065
Segment Type: schedule
Provision Reference: sch 3 (pt 25/36)
Character Range: 66153–68992

are taken, the difference between:
            (i)            the initial eligibility points secured by the applicant (the provisional secured points); and
            (ii)         the sum of the lot ratings for the number of lots of each product for which the applicant has a start demand;
           is greater than zero – that difference is subtracted from the provisional secured points to give the number of initial eligibility points secured by the applicant.
       (5) If:
         (a)      no initial eligibility points, in accordance with paragraph (4)(a) or (4)(c), remain; or
         (b)      no start demands, in accordance with paragraph (4)(b), remain:
     the applicant is taken to have withdrawn its application.
       (6) The ACMA must tell an applicant in writing if:
         (a)      the applicant has had its initial eligibility points and start demands calculated in accordance with subsection (4); or
         (b)        the applicant is taken to have withdrawn its application under subsection (5).
 (7) A deed of financial security must be executed by:
         (a)      an authorised deposit-taking institution within the meaning given by the Banking Act 1959; or
         (b)      a person authorised to carry on business in Australia as an insurer under the Insurance Act 1973; or
         (c)      a Lloyd's underwriter authorised to carry on insurance business under Part VII of the Insurance Act 1973.
 (8) If a deed of financial security is executed by a person acting under a power of attorney for a body corporate, the applicant must give the ACMA a copy of the power of attorney with the deed.
 (9) If a deed of financial security is given to the ACMA on behalf of the Commonwealth by email or fax before the eligibility deadline, the original deed must be received by the ACMA no later than 3 working days after the eligibility deadline (or, if the ACMA agrees to a later time, the agreed time) for the deed to be taken to have been given to the ACMA on behalf of the Commonwealth.

 (10) An applicant is taken to have withdrawn its application if:
(a)      the applicant fails to make an eligibility payment or give a deed of financial security before the eligibility deadline; or
(b)      the ACMA is not satisfied that the person executing a deed of financial security is a person mentioned in subsection (7).

       (11) The ACMA must tell an applicant in writing if it is taken to have withdrawn its application under subsection (10).
Division 5 Withdrawal of applicant

39 Withdrawal of applicant

 (1) An applicant may withdraw its application before the eligibility deadline, by giving the ACMA notice in writing.
 (2) If an applicant who withdraws its application under subsection (1), or who is taken to have withdrawn its application under another section of this instrument, has made an