On 9 February 2012, the Minister for Broadband, Communications and the Digital Economy, Senator Stephen Conroy, announced that competition limits will be imposed on the upcoming auction of spectrum in the 700 MHz and the 2.5 GHz bands. This part of the spectrum is seen as very important for the future growth of mobile communications services in Australia. The limits are aimed at preventing the monopolisation of this spectrum by one party – a situation that could lessen competition in the mobile communications market. A Regulation Impact Statement was prepared by the Department of Broadband, Communications and Digital Economy and was assessed as adequate by the Office of Best Practice Regulation.