Part 1: Key definitions Section 8: Concession contracts
Subsection (1) defines a concession contract as a contract for the supply, for pecuniary interest, of works or services where at least part of the consideration for that supply is a right for the supplier to exploit the works or services that are the subject of the contract and where under the contract the supplier is exposed to a real operating risk. A contract for the provision of goods cannot be a concession contract, as goods contracts do not involve the supplier being exposed to a real operating risk.
	Subsection (2) defines an "operating risk" for the purpose of subsection (1). An operating risk is the risk that the supplier is not able to recover its costs relating to the supply and operation of the works or services during the contract, and the factors creating the risks were not reasonably foreseeable at the time of award and arise from issues outside the control of the contracting authority and the supplier.