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29.—(1) Subject to paragraphs (2) and (3), these Regulations do not apply to procurement for the award of a contract—
(a)by a joint venture, formed exclusively by a number of utilities for the purpose of carrying out activities within the meaning of regulations 8 to 14, to one of those utilities; or
(b)by a utility to such a joint venture of which it forms part.
(2) The joint venture must have been set up in order to carry out the activity concerned over a period of at least 3 years and the instrument setting up the joint venture must stipulate that the utilities which form it will be part of the joint venture for at least the same period.
(3) This regulation applies despite the provisions of regulation 27 (exclusions: contracts between contracting authorities).