PART 6Reports on overheads and forward planning etc
Application of this Part31
1
This Part applies where—
a
a person (“P”) is party to a qualifying defence contract; and
b
the ongoing contract condition is met in relation to a financial year (“the relevant financial year”).
2
Paragraph (1) is subject to section 25(4) (minimum value of qualifying defence contract for reporting requirement to be imposed), and the amount specified for the purposes of that subsection is—
a
for the financial years ending on 31 March 2016 and 31 March 2017, £20,000,000;
b
for subsequent financial years, £50,000,000.
3
The reference in paragraph (1) to the ongoing contract condition being met in relation to a financial year has the meaning given by section 25(5).
4
The reference in paragraph (1) to a financial year does not include the financial year ending on 31 March 2015.