Document ID: chunk:federal_register_of_legislation:F2016L01970:reg:38:p2
Version: federal_register_of_legislation:F2016L01970
Segment Type: reg
Provision Reference: reg 38 (pt 2/2)
Character Range: 46626–48001

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 (b) in any other case – the applicant is taken to have withdrawn its application.
 (5) The ACMA must tell an applicant in writing if it is taken to have withdrawn its application under subsection (4).
 (6) A deed of financial security must be executed by an Australian-owned authorised deposit-taking institution (as defined in the Banking Act 1959) which is a bank.
 (7) 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.
 (8) If a deed of financial security is given to the ACMA by email or fax before the preference deadline, the original deed must be received by the ACMA no later than 3 working days after the preference 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.
 (9) An applicant is taken to have withdrawn its application if:
 (a) the applicant fails to pay a deposit or give a deed of financial security before the preference deadline; or
 (b) the ACMA is not satisfied that the person executing a deed of financial security is a person mentioned in subsection (6).
 (10) The ACMA must tell an applicant in writing if it is taken to have withdrawn its application under subsection (9).

Division 7—Withdrawal