On the 18 May 2017, Paschal Donohoe TD, Minister for Public Expenditure and Reform signed the European Union (Award of Concession Contracts) Regulations 2017 S.I. No 203 of 2017 (“Regulations”). These Regulations transpose the Concession Contracts Directive 2014/23/EU.

The Regulations apply to concession contracts awarded by contracting authorities or contracting entities with a value in excess of €5,225,000. In general terms concession contracts are:

1. Contracts for works or services concluded in writing; 2. The consideration for which consist solely in the right to exploit the works or services that are the subject of that contract or that right to exploit together with payment; and 3. The award of contract shall involve the transfer of an operating risk in exploiting the works or services, for example, under normal operating conditions the concessionaire is not guaranteed to recoup the investments made or the costs incurred in providing the works or services.

The Regulations are deemed to have come into operation on 18 April 2016.