Prospective
Materialisation of a known riskU.K.
5(1)A modification is a permitted modification if—
(a)the contracting authority considers that—
(i)a known risk has materialised otherwise than as a result of any act or omission of the contracting authority or the supplier,
(ii)because of that fact, the contract cannot be performed to the satisfaction of the contracting authority,
(iii)the modification goes no further than necessary to remedy that fact, and
(iv)awarding a further contract under Part 3 (instead of modifying the contract) would not be in the public interest in the circumstances, and
(b)the modification would not increase the estimated value of the contract by more than 50 per cent ignoring, for the purpose of estimating the value of the contract, the fact that the risk has materialised.
(2)Sub-paragraph (1)(b) does not apply if the contract being modified is a utilities contract.
Commencement Information
I1Sch. 8 para. 5 not in force at Royal Assent, see s. 127(2)