# The Single Source Contract (Amendment) Regulations 2024, Regulation 3: Amendment of regulation 2 (interpretation)


In regulation 2(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;”.

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Source: https://www.legislation.gov.uk/ukdsi/2024/9780348256437/regulation/3 (the official version)
Page: https://openlegislation.uk/draft-single-source-contract-amendment-regulations-2024/regulation-3
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.