Section 15, The Public-Private Partnership Act, 2010

(1) Without prejudice to section 15, a PPP Agreementshall set out the extent to which a private partner is entitled to a revision of the PPP Agreement with a view to providing compensation in the event that the cost of the private partner’s performance of the agreement has substantially increased or that the value the private partner receives for such performance has substantially diminished as compared with the costs and the values of performance originally foreseen , as a result of – 12 13 Security interest. Assignment Transfer of controlling interest in private Operation of Compensation for specific changes in legislation. Revision of P P P Agreement (a) changes in economic or financial conditions; or (b) changes in legislation or regulations not specifically applicable to the PPP Projects; provided that the economic, financial, legislative or regulatory changes (i) occur after the conclusion of the PPP Agreement; (ii) are beyond the control of the private partner; and (iii) are of such a nature that the private partner could not reasonably be expected to have taken them into account at the time the PPP Agreement was negotiated or have avoided or overcome their consequences. (2) A PPP Agreement shall establish procedures for revising the terms of the PPP Agreement following the occurrence of the circumstances described in subsection (1).