1.1 The identification of Functional Areas, Functional Units, Rectification Times, Area Weighting Percentages, Unit Weighting Percentages and the amount of Deductions for each category of Performance Failure shall be reviewed by the Board and Project Co at any time if requested by either party but in any event shall be reviewed at least once in every Contract Year. The Board and Project co shall act reasonably and diligently in carrying out the review. For the avoidance of doubt, the parties intend that any changes made as a result of such a review shall not alter the overall risk profile of the relevant Service or the likely magnitude of Deductions. Where proposed changes would result in any such alteration, the matter shall be deemed to be a Service Variation and Part 22 of the Schedule shall apply.
1.2 The Board and Project Co may in respect of each matter the subject of the review either:-
1.2.1 Agree that the status of the relevant matter shall continue to apply unchanged in the Contract Year immediately following the review; or
1.2.2 Agree adjustment to the relevant matter to take effect in the Contract Year immediately following the review.
1.3 Any agreed adjustment pursuant to a review shall be effective from the commencement of the Contract Year immediately following the relevant review carried out in accordance with paragraph 1.1 of this Section D.