14. At the time of the NAO survey only 15 per cent of authorities indicated that they had the right to share in refinancing benefits.25 The OGC agreed that this was not acceptable. In 1999, it had alerted departments to the question of refinancing and issued further guidance in 2000. It had put out to consultation its revision of the Standardisation of PFI contracts which it proposed to publish in March 2002, and which would explicitly steer authorities towards a 50:50 share of refinancing gains and retaining the right to approve any refinancing. It now expected all contracts being let to include appropriate refinancing provisions.26
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25 ibid, para 1.30