Approval and Refusal of the Public-Private Partnership Agreement

1. Cabinet shall approve the award of the updated and finalized Public-Private Partnership agreement if it is satisfied that:

  • The updated and finalized public-private partnership agreement is consistent with the feasibility study or any approved revised feasibility study;
  • The public-private partnership agreement is in the best interests of the state;
  • The entity has updated and finalized the public-private partnership agreement in accordance with the procedure identified in the Request for Proposals; and
  • Satisfactory due diligence has been completed of the private party and/or its shareholders and the responsible officer of the entity in relation to matters of legal compliance, competence, and capacity to enter the public-private partnership agreement.

2. When approval is granted by the Cabinet, the Public-Private Partnership agreement may be executed by the entity and the private party.

3. The Entity may not, under any circumstance whatsoever, proceed with execution of a Public-Private Partnership agreement with the preferred bidder, unless approval is granted by the Cabinet.

This publication is intended only to provide a summary of the subject matter covered. It does not purport to be comprehensive or to render legal advice. No reader should act on the basis of any matter contained in this publication without first obtaining specific legal advice.