News

Calling all Code Powers holders! All holders of Code Powers must calculated and provide for Funds for Liabilities, as required by Ofcom. This puts aside money to cover reinstatement and maintenance of assets if a "relevant event" occurs which prevents the operator from functioning. These have to be financed either by a bank performance bond, or a "ring fenced" bank account, to Ofcom's satisfaction. Many operators made an estimate of the level of FFL when applying for Code Powers. [...]

In 2016 the then Chancellor announced a 5 year relief on business rates on new fibre. This resulted from a meeting between me and Treasury Officials, given the litigation Vtesse had been involved with on business rates on fibre. The Treasury saw the tax, sometimes referred to as "fibre tax" as an obstacle to its objective of stimulating infrastructure investment, of which fibre was an important part. I said there was no point tinkering with the rules, and proposed a [...]

I'm pleased to announce I've been accepted onto the Government "Help to Grow" scheme as a Business Mentor. Looking forward to my first assignment.

Just arranged a £200k performance bond for a new fibre operator, for the "Funds For Liabilities" requirements for Code Powers holders. Market conditions have got a lot tighter as a result of SVB and Credit Suisse. I also hear that due diligence on any financial transaction has got a lot more "picky".

As part of the regulations, you need to file a certificate with Ofcom giving details of the Funds for Liabilities ("FFL"), that they are sufficient, and the method used - performance bond or "ring fenced" account on 1st April each year. If you miss the date, Ofcom could suspend your Code Powers so this is important. We've done 11 Code Powers applications with the FFL calculations, and 4 performance bonds. PM me if you need any help with completing [...]

Great news that Ofcom has deferred the Equinox BT Openreach discount scheme for 2 months while it gives further consideration to the Altnet submissions. Jansen shot himself in the foot with that "one network to bind them all" interview. Jansen as Sauron of the network world! Link to Ofcom announcement here https://lnkd.in/eZ9rJyvB