# The Public Service Obligations in Transport Regulations 2023, Paragraph 5: Materialisation of a known risk


In paragraph 4, a “known risk” means a risk that—
(a) the competent authority considered—
(i) could jeopardise the satisfactory performance of the public service contract, but
(ii) because of its nature, could not be addressed in the public service contract as awarded, and
(b) was identified in a notice for the award of the public service contract published under regulation 22, including by reference to—
(i) its meeting the description in sub-paragraph (a), and
(ii) the possibility of modification under paragraph 4.

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Source: https://www.legislation.gov.uk/ukdsi/2023/9780348252217/schedule/1/paragraph/5 (the official version)
Page: https://openlegislation.uk/draft-public-service-obligations-in-transport-regulations-2023/schedule-1/paragraph-5
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.