(1)A primary contractor must notify the Secretary of State on becoming aware of—
(a)the occurrence, or likely occurrence, of an event that is likely to have a material effect in relation to a qualifying defence contract to which the primary contractor is a party,
(b)circumstances that are likely to have a material effect in relation to such a contract, or
(c)information that is likely to be materially relevant to such a contract.
(2)For the purposes of this section—
(a)an event has a material effect in relation to a contract if it has a material effect in relation to any of the matters mentioned in subsection (3),
(b)circumstances have a material effect in relation to a contract if they have a material effect in relation to any of those matters, and
(c)information is materially relevant to a contract if it is materially relevant to any of those matters.
(3)The matters referred to in subsection (2) are—
(a)the costs of the primary contractor under the contract,
(b)the total price payable to the primary contractor under the contract, and
(c)the primary contractor’s ability to perform a material obligation of the contract.