(a) (Project Efficiency Review): Every 5 years after the Operational Commencement Date (each a Project Review Date), Project Co and the State must conduct a review in order to ensure that the Services and the Project Assets are providing a suitable and cost effective solution for the State (Project Efficiency Review).
(b) (Project Improvement Report): As part of the Project Efficiency Review, Project Co must produce a report which must:
(i) identify any activities undertaken by Project Co to improve the effectiveness of the Services, and any further opportunities for improvement of the Project through Modifications, changes in respect of the role of the State and behaviour or usage changes by either party; and
(ii) include as a minimum:
A. a trend analysis of performance of the Services against the standards set out in this Deed or required by Best Industry Practice from the Operational Commencement Date to the Project Review Date;
B. areas of performance of the Services that can be improved, and steps taken by Project Co to address performance issues;
C. where the performance trend analysis identifies a deteriorating trend in performance, repeat failures, or significant failures, an action plan to identify how these failures are to be improved;
D. opportunities for reducing Services costs; and
E. a financial summary identifying the cost impact of all the efficiency improvement opportunities identified and any cost savings that can be achieved,
(the Project Improvement Report) and submit the relevant Project Improvement Report for review by the State in accordance with the Review Procedures no less than 30 days prior to the relevant Project Review Date.
(c) (Appointment of independent technical advisor): The State may appoint an independent technical advisor to carry out an independent review and produce an independent report which addresses any of the requirements of the Project Improvement Report as part of a Project Efficiency Review.
(d) (Project Co must co-operate): Project Co must co-operate fully with any independent technical advisor appointed by the State to conduct a Project Efficiency Review and provide access to systems, copies or reports and any relevant data to enable the independent technical advisor to complete their report.
(e) (Costs): The costs of the independent technical advisor will be borne by the State, unless the State has engaged the independent technical advisor to prepare the independent report in accordance with clause 28.3(c) because Project Co has failed to provide a Project Improvement Report in accordance with the requirements of clauses 28.3(a) or 28.3(b), in which case the costs of the independent technical advisor will be borne by Project Co as a debt due and payable by Project Co to the State.
(f) (Meeting): As part of the Project Efficiency Review the parties will hold one or more meetings after:
(i) submission of the Project Improvement Report by Project Co under clause 28.3(b); and
(ii) receipt of any report prepared by the independent technical advisor under clause 28.3(c),
and both parties will present their view of the effectiveness of the Project and improvements that can be made.
(g) (Implementation): Without limiting the State's rights under clause 5.2(a)(iv) or clause 35, the State may, at any time, issue to Project Co a Modification Request under clause 35.1, or a Modification Order under clause 35.11, or exercise its rights in relation to an Augmentation in relation to any improvements identified in accordance with this clause, in which case the relevant procedures in clause 35 will apply.
(h) (Not required to defer Planned Lifecycle Activities): In order to comply with its obligations under this clause 28.3, Project Co is not required to defer any Planned Lifecycle Activities under clause 28.4(a).