Ofcom1 is not to fix a tariff for fees payable under Broadcasting Act licences2 unless:
(1) at the time it does so, there is in force a statement of the principles that Ofcom is proposing to apply in fixing that tariff; and
(2) the tariff is fixed in accordance with those principles3.
Those principles must be such as appear to Ofcom to be likely to secure, on the basis of such estimates of the likely costs that it is practicable for it to make:
(a) that the aggregate amount of the Broadcasting Act licence fees4 that are required to be
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