HM Treasury reminds stakeholders of reporting obligations on operational PPP projects

Corporate Alert

The voluntary code of conduct for PPPs, first published in July 2013 to encourage efficiencies in operational PPP projects, was amended in December 2016.

HM Treasury released a number of forms designed to assist private sector contracting parties in complying with financial and corporate reporting obligations.

They consist of:

  • A form to report any change of ownership (including knowledge of proposed changes) in the project company
  • An Excel spreadsheet for completion by project sponsors, which automatically calculates equity returns to date by shareholder
  • A form to provide detailed summary data available at financial close - such as project advisors, successful bidder, senior debt/bond amount, any shareholder loans, cover ratios, margins, project IRR, any guarantees provided

These publications serve to remind all parties to public private partnership arrangements of the existence of the code, and to encourage them to sign up by setting out clearly how to do so, and by making it easier for them to comply with the ensuing obligations.

The forms can be accessed here.