A requirement of the GIPA Act (Division 5 Government contracts with private sector) is that Council maintain a register of government contracts valued at $150,000 or more.
A contract which the agency is a party that has (or is likely to have) a value of $150,000 or more.
Additional information is required to be entered in the government contracts register for class 1 contracts to which any of the following applies:
- when a there has not been a tender process,
- the proposed contract has been the subject of a tendering process and the terms and conditions of the contract have been substantially negotiated with the successful tenderer,
- the obligations of one or more parties under the contract to maintain or operate infrastructure or assets for 10 or more years,
- the contract involves a privately financed project as defined by guidelines published by the Treasury,
- the contract involves transfer of a significant agency concerned to another party to the contract in exchange for the transfer of an asset to the agency.
If a class 2 contract has (or is likely to have) a value of $5 million or more.