Regulation 12 Insertion of division headings and regulations 9B (contract pricing methods) and 9C (re-determination of contract price)

After the title of Part 3 insert—

“Chapter 1

Contract pricing methods

Contract pricing methods

9B

(1)

The parties to a qualifying defence contract must use a contract pricing method for determining the price payable under that contract or a component of the contract.

(2)

Unless the parties make an agreement in accordance with paragraph (3), the parties must determine the price payable in accordance with a default pricing method.

(3)

If the circumstances described in an alternative pricing method pertain, the parties may agree to determine the price payable in accordance with that alternative pricing method.

Re-determination of contract price

9C

The Schedule makes provision for the re-determination of the contract price for a qualifying defence contract or a component of such a contract.

Chapter 2

Default pricing of contracts”.