Annual renewal of funds for liabilities certification by Code Power operators
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This post is retained unchanged for reference. It reflects the position when it was published and has not been updated, so it may not state the current law. For current analysis, see the practice-area pages and recent posts.
I saw today that Ofcom is consulting on the grant of Code Powers to Gigaclear Limited, and it reminded me that we are fast approaching that time of year when Communications Providers with Code Powers need to provide their annual certification to Ofcom that they have in place sufficient funds to meet their liabilities.
This somewhat curious process requires operators to assess on an annual basis what funds might be required to fund their network construction / reinstatement related liabilities (I paraphrase – the statutory definition is rather more complex than this) in the event that the operator becomes insolvent, to put in place arrangement to cover those liabilities and then to certify to Ofcom that this has been done.
