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.

However, there have been some significant changes in the last few years, which may significantly reduce the level now needed to be provided for.

We’re now doing audits of the FFL calculations against the actual construction details for a number of operators.

Time yours was looked at too?