Having regard to the desirability of promoting the optimal use of the electromagnetic spectrum, Ofcom1 may by regulations2 provide that, in such cases as may be specified in the regulations, applications for wireless telegraphy licences3 must be made in accordance with a procedure that involves the making by the applicant of a bid specifying an amount that he is willing to pay to Ofcom in respect of the licence4. The regulations may make provision with respect to the grant of the licences to which they apply, and with respect to the terms, provisions and limitations subject to which such
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