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21.—(1) Where the competent authority is satisfied that one or more of the events in Schedule 4 are occurring or have occurred in respect of a tender exercise, it may, in the circumstances specified in paragraph (2), publish a notice cancelling that tender exercise.
(2) The circumstances in which the competent authority may publish a notice in accordance with paragraph (1) are that the competent authority has—
(a)given seven days notice of its intention to cancel the tender exercise to each tender participant who is still participating in the tender exercise at that particular time; and
(b)considered any representations which have been duly made in relation to the notice given in accordance with sub-paragraph (a), by a person to whom that notice was given.
(3) Where the competent authority has published a notice in accordance with paragraph (1), the competent authority may—
(a)re-run that tender exercise, from the beginning or from the beginning of a particular stage of that tender exercise in accordance with these Regulations; or
(b)determine that the tender exercise has failed and is finished.
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