Regulations for the Establishment of Radio Broadcasting Enterprises Article 36

In the event where the nominated bidder fails to return all the station operating licenses and frequency in use according to Paragraph 2 of Article 10, to remit winning bid according to Paragraph 2 of Article 34 or the installment of the winning bid according to Subparagraph 1 of Paragraph 3 of Article 34, or to pay the performance bond according to Paragraph 1 of Article 38, the bid award granted to the bidder shall be invalidated.In the event where the nominated bidder or operator fails to pay the payable winning bid and interest accrued according to Subparagraph 2 of Paragraph 3 of Article 34 or the half of the payable winning bid and interest accrued according to Subparagraph 3 of Paragraph 3 of Article 34, the regulatory agency shall notify the guarantee bank to honor its payout guarantee liability; in the event where the payment remains pending, the regulatory agency shall abolish the nominated bidder’s nomination qualification, establishment permit, station installation permit, station license, station operating license and allotted frequency. The previous remittances of the winning bid and interest accrued shall not be reimbursed.In the event where the nominated bidder or operator fails to return all the station operating licenses and frequency in use according to Paragraph 2 of Article 10 or to pay the performance bond according to Paragraph 1 of Article 38, or the nominated bidder’s establishment permit is expired and becomes invalid, the regulatory agency shall abolish the nominated bidder’s nomination qualification, establishment permit, station installation permit, station license, station operating license and allotted frequency. The previous remittances of the winning bid and the interest shall not be reimbursed.