Procurement in a Nutshell – The Procurement Act 2023
18th January, 2024
This Nutshell looks at the incoming Procurement Act 2023, which aims to establish a new public procurement regime following Brexit, and also to deliver the Government's promise to grow the economy by creating a simpler more transparent system.
On the 26th October 2023 the Procurement Bill received Royal Assent and is now expected to come into force in October 2024.
This new system hopes to ensure better value for money and reduce costs for businesses and the public sector. The Act also seeks to streamline the procurement process, and afford contracting authorities more flexibility to negotiate prices and create innovative solutions with bidders.
The Act will, in particular, revoke the following:
- Public Contracts Regulations 2015
- Concession Contracts Regulations 2016
- Utilities Contracts Regulations 2016
The Government has published a series of ‘Knowledge Drops’ to provide an overview of the Act, and the key changes it introduces, in order to support contracting authorities during this transition.
To supplement this, we will be producing an in-depth analysis of the specific regulations in the 2023 Act, including an evaluation of the key changes and their impact on public authorities. These evaluations will address six key topics covered by the Act, namely:
- Pre-Procurement Considerations
- Procurement Processes
- Contract Management
Our assessment of the Act will be published through our Procurement in a Nutshell series in due course.
In the meantime, if you have any questions regarding the new legislation, please get in touch and see also the Government’s Knowledge Drops.
For further information please contact Melanie Pears or Tim Care in our Expert Public Sector Lawyers.
Please note that this briefing is designed to be informative, not advisory and represents our understanding of English law and practice as at the date indicated. We would always recommend that you should seek specific guidance on any particular legal issue.
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