Regulation 32. Understating weighted net revenue. (COMMUNICATIONS AND MULTIMEDIA (UNIVERSAL SERVICE PROVISION) REGULATIONS 2002

P.U.(A) 419/2002
COMMUNICATIONS AND MULTIMEDIA (UNIVERSAL SERVICE PROVISION) REGULATIONS 2002
PART VI - USP FUND

Regulation 32. Understating weighted net revenue.

(1) If the Commission finds that a licensee has understated its weighted net revenue for a calendar year, the Commission may by a written notice to the licensee—

(a)

state the Commission's findings; and

(b)

request the licensee to explain in writing the understatement of the weighted net revenue within the time specified in the notice.

(2) If the explanation under paragraph (1)(b) is not provided by the licensee within the time specified or any extension of time granted by the Commission, the Commission may make a decision on the weighted net revenue and the decision of the Commission shall be final.

(3) The Commission shall before making a decision under subregulation (2), consider the following:

(a)

the explanation provided by the licensee, if any;

(b)

whether the licensee acted in good faith; and

(c)

such other matters as the Commission may deem relevant.

(4) If the Commission decides that the licensee has understated its weighted net revenue for a calendar year, the Commission shall have the right to estimate the contribution of the licensee in accordance with regulation 33.

(5) Notwithstanding subregulations (2) and (4), a licensee who intentionally understates its weighted net revenue shall be guilty of an offence under these Regulations.