# The Contracts for Difference (Allocation) Regulations 2014, Regulation 12: Contract budget revision

Extent: E+W+S

(1) This regulation applies where the Secretary of State has given a contract budget notice in respect of an allocation round.
(2) The Secretary of State—
(a) may revise a contract budget notice (“a contract budget revision”)—
(i) in the period after the contract budget notice has been given but before the first CFD notification, further to the allocation round to which the contract budget notice applies, has been given; and
(ii ) in accordance with paragraph (5); but
(b) must only effect a contract budget revision by a notice (“a contract budget revision notice”) which complies with regulation 13.
(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(4) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
(5) ... The Secretary of State may increase the contract budget but must not—
(a) decrease—
(i) the contract budget;
(ii) any maxima; or
(iii) any minima; or
(b) increase any maxima or minima, unless the contract budget is increased by at least the same amount; or.
(c) remove the application of a soft constraint to a budget (see regulation 11(4A)).

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Source: https://www.legislation.gov.uk/uksi/2014/2011/regulation/12 (the official version)
Page: https://openlegislation.uk/contracts-for-difference-allocation-regulations-2014/regulation-12
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.