Regulation 14 Transitional provisions

Where the price payable under a qualifying defence contract M1 or qualifying sub-contract M2 is re-determined under regulation 14 of the 2014 Regulations before 1st April 2019 (“the existing price”), the existing price is to be treated, on and after that date, for the purposes of those Regulations as if it had been determined in accordance with the Schedule to those Regulations (as inserted by these Regulations).

In addition, for the purposes of the following provisions of the 2014 Regulations as they apply to that contract on and after 1st April 2019, any reference in those provisions to the time of agreement is to be read as a reference to the date on which the existing price was determined—

But paragraph (2) ceases to apply if the price payable under the contract is re-determined in accordance with the Schedule to the 2014 Regulations on or after 1st April 2019.