Document ID: chunk:federal_register_of_legislation:F2016L01970:reg:38:p1
Version: federal_register_of_legislation:F2016L01970
Segment Type: reg
Provision Reference: reg 38 (pt 1/2)
Character Range: 44430–46829

38  Deposit or deed of financial security required
 (1) An applicant must, before the preference deadline:
 (a) pay a deposit of an amount to the ACMA on behalf of the Commonwealth; or
 (b) give the ACMA on behalf of the Commonwealth a deed of financial security, for an amount; or
 (c) pay a deposit of part of an amount and give a deed of financial security for the remainder.
Note: For information on how a deposit is paid, see section 7.  For information on how a deed of financial security is given, see section 6 and subsection (8).
 (2) For the purposes of subsection (1) the amount required, in relation to an applicant, is:
 (a) if the applicant nominated both the 10 MHz lot and the 5 MHz lot as its preferred lots – 10 percent of the starting price of the 10 MHz lot;
 (b) if the applicant nominated only the 10 MHz lot as its preferred lot – 10 percent of the starting price of the 10 MHz lot;
 (c) if the applicant nominated only the 5 MHz lot as its preferred lot – 10 percent of the starting price of the 5 MHz lot.
 (3) If an applicant pays a deposit or gives a deed of financial security (or both) for an amount less than the amount under subsection (2), the ACMA must, in writing, notify the applicant that:
 (a) the applicant has paid a deposit or given a deed of financial security (or both), whichever the case may be, for less than the amount under subsection (2); and
 (b) the applicant must, before the preference deadline or no later than 3 working days after the date of the notice (whichever is the later), pay a deposit or give a deed of financial security (or both) for the amount under subsection (2).
 (4) If the applicant does not comply with the notice given under subsection (3):
 (a) if:
 (i) the applicant nominated both lots as its preferred lots; and
 (ii) 10 percent of the starting price for the 10 MHz lot is greater than the amount of the deposit paid or the deed of financial security given (or both) by the applicant; and
 (iii) 10 percent of the starting price for the 5 MHz lot is equal to or less than the amount of the deposit paid or the deed of financial security given (or both) by the applicant;
  the applicant is taken to have nominated only the 5 MHz lot as its preferred lot;
 (b) in any other case – the applicant is taken to have withdrawn its application.
 (5) The ACMA must tell an applicant in writing if it is taken to have withdrawn its