Document ID: chunk:federal_register_of_legislation:F2020L01453:schedule:3:p9
Version: federal_register_of_legislation:F2020L01453
Segment Type: schedule
Provision Reference: sch 3 (pt 9/12)
Character Range: 208717–211373

if the date mentioned in paragraph (1)(i) were the date included in the revised notice; and
         (c)        any previous notice given by the winning bidder under subclauses (2) or (3) is of no effect.
 (6) If, by the date mentioned in paragraph (1)(i), a winning bidder does not give the ACMA written notice whether it elects to pay the winning price in full or in instalments, the bidder is taken to have given the ACMA written notice that it elects to pay the winning price in full.
 (7) If, by the date mentioned in paragraph (1)(i), a winning bidder gives the ACMA written notice that it elects to pay the winning price in instalments, the winning bidder is not entitled to be issued a spectrum licence unless the winning bidder gives the ACMA on behalf of the Commonwealth the bank guarantee in accordance with subclause 3(3).
           Note 1: If the winning bidder fails to pay an instalment other than the first instalment, the winning bidder, as the licensee of a spectrum licence, may contravene relevant licence conditions, as set out in the marketing plan, that are required to be included in the spectrum licence by section 67 of the Act.
           Note 2: If any of the second instalment, third instalment, fourth instalment or fifth instalment are not paid in accordance with clause 4, the ACMA or the Commonwealth may require the authorised deposit-taking institution (within the meaning of the Banking Act 1959) that has issued the bank guarantee to pay the amount secured by the bank guarantee.
 (8) If a spectrum licence is issued to a winning bidder in accordance with subclause 5(2), each of the first instalment, second instalment, third instalment, fourth instalment and fifth instalment is not refundable in any circumstances.
 (9) If a bank guarantee is given to the ACMA on behalf of the Commonwealth by email before the time set out in the marketing plan, the original guarantee must be received by the ACMA no later than 3 working days after that time (or, if the ACMA agrees to a later time, the agreed time) for the bank guarantee to be taken to have been given to the ACMA on behalf of the Commonwealth.

      4 Terms of payment by instalments
 (1) If a winning bidder elects to pay the winning price in instalments:
         (a)        the full amount of the winning price must be paid in 5 instalments; and
         (b)       each instalment must equal 20.32% of the winning price; and
         (c)        each instalment must be paid in accordance with the timeframes set out in subclauses (2) to (4).
 (2) The first instalment minus any eligibility payments already made by the winning bidder must be paid prior to