Amendment of regulation 2 (interpretation)
3. In regulation 2(1)(1)—
(a)after the definition of “the Act” insert—
““alternative pricing method” means one of the contract pricing methods described in Chapter 3 of Part 3;”;
(b)after the definition of “business unit” insert—
““competed rate” means the competed rate or price in accordance with the terms of the relevant framework agreement;
“component”, in relation to a contract, has the meaning given by regulation 9A;
“component completion date” has the meaning given by regulation 4(1A);”;
(c)in the definition of “contract completion date”, at the end insert “(1)”;
(d)for the definition of “contract price” substitute—
““contract price” has the meaning given by regulation 4A;”;
(e)after the definition of “contract price” insert—
““contract pricing method” means an alternative pricing method or a default pricing method;”;
(f)after the definition of “cost recovery rate” insert—
““default pricing method” means one of the contract pricing methods described in Chapter 2 of Part 3;”;
(g)in the definition of “further group sub-contract”, for “12(6)” substitute “13A(4)”;
(h)in the definition of “group sub-contract”, for “12(5)” substitute “13A(3)”;
(i)omit the definition of “regulated pricing method”;
(j)in the definition of “the time of agreement”, at the end insert—
“(c)in the case of a component of a qualifying defence contract—
(i)the date the component is entered into; or
(ii)if the price payable under the component is re-determined in accordance with the Schedule, the date of that re-determination;”.
Regulation 2 was amended by S.I. 2018/1350 and S.I. 2019/1106.