NALC published updated the Model Financial Regulations for Town and Parish Councils on March 5th. These regulations are standardised guidelines designed to ensure the proper management and oversight of financial activities within these councils.
The update relate to Section 5 – Procurement, specifically:
5.4. For a contract for the supply of goods, services or works where the estimated value will exceed the thresholds set by Parliament, the full requirements of The Procurement Act 2023 and The Procurement Regulations 2024 or any superseding legislation (“the Legislation”), must be followed in respect of the tendering, award and notification of that contract. This change reflects an update in the referenced legislation from The Public Contracts Regulations 2015 to The Procurement Act 2023 and The Procurement Regulations 2024.
5.11. Contracts must not be split to avoid compliance with these rules. The minor change in wording in section 5.11 shortens “split into smaller lots” to “split”.
