2. The Crown's objectives

The PwC-NZIER report cites objectives specified by the Government for the renewal of spectrum rights.

Government objectives for the process for renewing spectrum rights:⁵

• That commercial spectrum rights be reallocated five years before expiry for a further 20 years, subject to review on a case-by-case basis to ensure consistency with New Zealand’s international radio obligations and with the general objective of maximising the value of the spectrum to society as a whole.
• That the Crown should receive a fair financial return for the use of the spectrum in the future period.
• That spectrum rights be reallocated to existing right holders based on price-setting formulae that estimate the market value of the rights, and that if existing right holders do not wish to pay this price, the respective rights be reallocated by auction.
• That the process be simple to administer.
• That the process be applicable in a transparent manner.