This document replaces the previous Guidance Note for Public Sector Bodies forming Joint Venture Companies with the Private Sector, issued in December 2001.
In line with HM Treasury's approach, as set out in "Infrastructure procurement: delivering long-term value" (March 2008), this Guidance looks at the issues associated with the creation and use of Joint Venture entities across the wider procurement spectrum. This is a change from the previous Guidance Note which concentrated on the creation of corporate Joint Ventures for creating value under the Wider Markets Initiative. This revision includes guidance on issues associated with the creation of a wider range of Joint Venture entities, in particular companies, limited partnerships and limited liability partnerships.
This Guidance Note is not a replacement for independent specialist advice and those who use it should ensure that they take appropriate legal, financial and technical advice. HM Treasury and its advisers accept no liability whatsoever for any expense, liability, loss, claim or proceedings arising from reliance placed upon this Guidance Note or any part of it. Users must always satisfy themselves as to the applicability of the relevant part(s) of this Guidance Note to the particulars of their project.