# Procurement Act 2023, Section 4: Valuation of contracts

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

(1) For the purposes of this Act, the “estimated value” of a contract is its value for the time being estimated by a contracting authority.
(2) A contracting authority that estimates the value of a contract must do so in accordance with Schedule 3.
(3) A contracting authority must not exercise a discretion in connection with estimating the value of a contract with a view to securing that any requirement of this Act does not apply in relation to the contract.

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Source: https://www.legislation.gov.uk/ukpga/2023/54/section/4 (the official version)
Page: https://openlegislation.uk/procurement-act-2023/section-4
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.