§  24.833   Post-auction divestitures.

   Any parties sharing a common non-controlling ownership interest who
   aggregate more PCS spectrum among them than a single entity is entitled
   to hold ( See § § 20.6(e), 24.710, 24.204, 24.229(c) of this chapter)
   will be permitted to divest sufficient properties within 90 days of the
   license grant to come into compliance with the spectrum aggregation
   limits as follows:

   (a) The broadband PCS applicant shall submit a signed statement with
   its long-form application stating that sufficient properties will be
   divested within 90 days of the license grant. If the licensee is
   otherwise qualified, the Commission will grant the applications subject
   to a condition that the licensee come into compliance with the PCS
   spectrum aggregation limits within 90 days of grant.

   (b) Within 90 days of license grant, the licensee must certify that the
   applicant and all parties to the application have come into compliance
   with the PCS spectrum aggregation limits. If the licensee fails to
   submit the certification within 90 days, the Commission will
   immediately cancel all broadband PCS licenses won by the applicant,
   impose the default penalty and, based on the facts presented, take any
   other action it may deem appropriate. Divestiture may be to an interim
   trustee if a buyer has not been secured in the required time frame, as
   long as the applicant has no interest in or control of the trustee, and
   the trustee may dispose of the property as it sees fit. In no event may
   the trustee retain the property for longer than six months from grant
   of license.

   [ 59 FR 53371 , Oct. 24, 1994]