(1) Neither a commercial television broadcasting licensee, nor the licensee's program supplier, must enter into a contract under which the licensee or the program supplier, as the case may be:
(a) acquires; or
(b) will be entitled to acquire (whether on the fulfilment of a condition or otherwise);
rights to televise live the whole, or a substantial proportion, of a designated event, or of a designated series of events, unless the contract authorises the licensee or program supplier, as the case may be, to make an offer of the kind referred to in section 146E.
(2) A commercial television broadcasting licensee's program supplier must not enter into a contract under which the program supplier:
(a) is entitled; or
(b) will be entitled (whether on the fulfilment of a condition or otherwise);
to confer on the licensee the right to televise live the whole, or a substantial proportion, of a designated event, or of a designated series of events, unless the contract authorises the program supplier to make an offer of the kind referred to in section 146F.
(3) A contract entered into in contravention of subsection (1) or (2) is void.