The Private Sector participants in PFI transactions will:
(i) consult with their counterpart Authorities about the terms of any proposed refinancings in advance of any decision to proceed and their implementation;
(ii) undertake all refinancings on an open and transparent basis with full and timely provision of information to relevant Authorities and their advisers; and
(iii) give an Authority a share of gains, in accordance with clauses 8 and 9 below, arising from such a refinancing.