3.1.1  The concept of change in law

All contracting parties must operate within the law and so must factor the cost, time and any other implications of complying with applicable law into the performance of their contractual obligations. Over a long term contract changes in law may be introduced which were unanticipated at the outset of the contract. These changes may take different forms, such as the implementation of new or amended statutes or the introduction of mandatory codes of practice or new binding case law, and will vary across jurisdictions according to the applicable legislative framework.