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.