Offer Terms and Conditions
[ Last Updated 16 December 2005 ]
The offer documents will include terms and conditions developed by the Ministry's legal advisors. It is intended that the offer document include a schedule and details of each licence to be offered to each rightholder in a manner similar to previous Ministry auction catalogues. Rightholders will be able to accept or decline each individual offer made.
The terms and conditions will implement the following:
- Renewal offers will be open for acceptance for a limited period. If a rightholder does not accept the offer and indicates its intention to bid for the rights, a contestable auction allocation may be held.
- If a rightholder does not respond within a specified period, or it rejects the offer but does not indicate its intention to bid for the rights, the rights may be reconfigured and allocated at a later date.
- Full settlement of purchases is required on or before six months prior to expiry, including satisfaction of any Commerce Act 1986 requirements.
- Rightholders of licences must, as a condition of settlement, demonstrate current ongoing use of the corresponding licence for broadcasting as at the settlement date.
- If the purchaser fails to settle on time, the rights may be reconfigured and allocated at a later date, as seen fit, with financial penalties on the defaulting purchaser.
This page will be updated from time to time. If you have any queries regarding the project or wish to receive notice of updates please contact the Ministry via email to radiospectrum@med.govt.nz.
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