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PART 3 U.K.Repricing of contracts

7.  In regulation 2, in paragraph (1)—

(a)for the definition of “the Act” substitute—

the Act” means the Defence Reform Act 2014, and references to sections are to sections of that Act;;

(b)for the definition of “contract price” substitute—

contract price”, in relation to a qualifying defence contract, means—

(a)the price payable under the contract to the primary contractor as determined in accordance with regulation 10, or

(b)if the contract is amended in a way that affects the price payable under it, the price payable under the contract to the primary contractor as determined or, as the case may be, last determined in accordance with the Schedule;;

(c)in the definition of “the time of agreement”, for “under regulation 14”, in both places it occurs, substitute “ in accordance with the Schedule ”.