Cap. 327 Art. 124Contractsofsupply or work.

No entity shall, except with the approval of the Minister granted for special reasons and after consultation with the Minister responsible for finance, award or enter into any contract for the supply of goods or materials or for the execution of works, or for the rendering of services, to or for the benefit of the entity, which is estimated by the entity to exceed six thousand and nine hundred and eighty-eight euro and twelve cents (6,988.12) in value, or such other amount as the Minister responsible for finance may by regulations under this article prescribe, except after notice of the intention of the entity to enter into the contract has been published and competitive tenders have been issued.