3Regulated contracts
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(1)A contract is regulated if—
(a)it is a public contract,
(b)the estimated value of the contract (see section 5) is equal to or greater than the contract threshold, and
(c)the contract is not an excluded contract (see section 4).
(2)For the purposes of this Act, the contract threshold is as follows—
| Type of contract | Threshold |
|---|---|
| Public contract (other than a public works contract) | £50,000 |
| Public works contract | £2,000,000 |
(3)The Scottish Ministers may by order amend the table in subsection (2) so as to substitute for the figures specified there for the time being such other figures as they consider appropriate.