# Procurement Act 2023, Paragraph 6: Materialisation of a known risk

Extent: E+W+S+N.I.

In paragraph 5, a “known risk” means a risk that—
(a) the contracting authority considered—
(i) could jeopardise the satisfactory performance of the contract, but
(ii) because of its nature, could not be addressed in the contract as awarded, and
(b) was identified in the tender or transparency notice for award of the contract, including by reference to—
(i) it meeting the description in paragraph (a), and
(ii) the possibility of modification under paragraph 5.

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Source: https://www.legislation.gov.uk/ukpga/2023/54/schedule/8/paragraph/6 (the official version)
Page: https://openlegislation.uk/procurement-act-2023/schedule-8/paragraph-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.