The new Procurement Act 2023 represents a significant transformation of public procurement law. £300 billion per year is spent on public procurement and these changes will affect both public bodies that procure services from third party contractors and any organisations that bid for public contracts.
The changes are likely to come into force in October 2024. So what has changed and how can you prepare over the next 6 months?
In this webinar we’ll be sharing an overview of the new Act, the major changes and what this means to you in practical terms. We’ll also have time at the end to answer your questions.
We’ll be discussing:
- Who is subject to the new Act
- What the thresholds are
- Procedures under the new Act
- New transparency requirements
- Extensions and modifications
- Change from MEAT to MAT
- Social value
- Changes to the challenges and remedies regime
- What steps can you take to prepare over the next six months
- Q&A
Who should attend?
Commissioners: If you are a public body that procures services from third party contractors, then the Act will apply to you. That includes central Government, local authorities and many non-departmental public bodies (NDPBs) – but can extend more widely, too. If you receive public funding to carry out work for the public benefit, then the Act may well apply to you – and that includes a number of charities, depending on their funding model.
Suppliers and partners: If you are an organisation that bids for public contracts, then the Act will apply to you. That includes charities and social enterprises – around 5% of public contracts are won by this sector, with the majority of those contracts coming from local authorities.