CONGRESSIONAL BILL NO. 18-145, C.D.1 P.C. NO. 18-254 PUBLIC LAW NO. 18-52 1 (w) ‘licence’ means an operating or spectrum 2 licence issued to a person or class of persons under 3 this Act; 4 5 (x) ‘licensee’ means a person who holds or is registered under a licence issued under this Act; 6 (y) ‘market’ means a market in the Federated 7 States of Micronesia for goods and services that, as a 8 matter of fact and commercial common sense, are 9 substitutable for them; 10 (z) ‘message’ means any sign, signal, writing, 11 image, sound, instruction, information, or intelligence 12 of any nature; 13 (aa) ‘net revenue’ means, in respect of any 14 service provider, the gross revenue received by the 15 service provider from the provision of communications 16 services and from interconnection and access, less the 17 sum of: 18 (i) The interconnection and access charges 19 paid by the service provider to another person in the 20 Federated States of Micronesia; and 21 (ii) Payments made by the service provider to 22 an unrelated person outside the Federated States of 23 Micronesia for the carriage of telecommunications 24 traffic originating in the Federated States of 25 Micronesia to destinations outside of FSM; 9 of 119