PART 9Grant Stage
CHAPTER 4Completion of the award process
Refunds119.
Where, following the grant of licences, the total amount a bidder has on deposit at that time is an amount that is greater than the total auction sum payable by that bidder to OFCOM, OFCOM shall refund to that bidder a sum in pounds which is the difference between—
(a)
the amount which is the total auction sum payable by that bidder to OFCOM (if any); and
(b)
the amount the bidder has on deposit.