Offer Terms and Conditions
[ Last Updated 13 December 2005 ]
The offer documents will include terms and conditions developed by the Ministry's legal advisors. The offer document is likely to include a schedule of lots to be offered to each rightholder and have a look and feel similar to an auction catalogue. A form is likely to be included for the rightholder to indicate acceptance in whole or in part.
The terms and conditions will implement the following:
- Renewal offers will be open for acceptance for three months. If a rightholder does not accept the offer and indicates its intention to bid for the rights, a contestable auction allocation will be held within one year of the offer date.
- If a rightholder does not respond within three months, 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 12 September 2009, including satisfaction of any Commerce Act 1986 requirements.
- Rightholders of individual licences must, as a condition of settlement, demonstrate current ongoing use of the corresponding licence for broadcasting as at the settlement date.
- Rightholders of UHF-TV nationwide sets must, as a condition of settlement, demonstrate current ongoing use of a majority of the corresponding licences for broadcasting as at the settlement date. If fewer than a majority are in use, only those licences in use will be renewed, subject to a pro-rata price reduction to reflect the population able to be served by the renewed licences.
- 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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