What is it?
The Procurement Act 2023 is new legislation that changes how the public sector buys goods, works and services.
It replaces the Public Contracts Regulations 2015, once all existing contracts expire, are replaced or cease to exist.
It only applies to purchases over a certain value
The new law only changes how schools and trusts buy:
- Goods and services over the threshold value of £207,720
- Works over £5,193,000
The exact value of the thresholds is subject to change.
It won't have any effect on purchases under this value. Learn more about the different routes to buying goods, works or services at lower values.
When did it take effect?
The Procurement Act came into force on 24 February 2025.
What about existing contracts?
You won't need to change any contracts that started before the Act came into force.