Amendment and Restatement of the Public Procurement and Concessions Act, 2005.

This Act regulates all forms of public procurement and Concessions, establishes the Public Procurement and Concessions Commission, provides for institutional structures for public procurement and Concessions, and stipulates methods and procedures for public procurement and concessions and for purposes related thereto. The Act shall apply to the procurement of goods, works and services, financed in whole or in part from public funds including the disposal of government stores, plant and equipment and all Concessions as defined under this Act. One of the objectives of the Act is to decentralize public procurement to procuring entities.
The Public Procurement and Concessions Commission is established as a body corporate and shall have the oversight responsibility for all public procurement and concessions in accordance with this Act. The Commission shall, among other things, develop Rules, Instructions, Regulations and related documentation on public procurement and concessions. The Act shall apply to the granting of concessions of whatever form in all sectors including, but not limited to: (a) mineral exploration and mining; (b) fishing; (c) forestry; (c) water and other utilities; (d) agriculture concessions including plantations; and (e) oil exploration and extraction. The Act sets out specific procedures for processing concession agreements. The holder of a Concession granted under this Act must be a corporation organized under the Business Corporation Act, Part I of Title 5 of the Liberian Codes Revised, Vol. II or under any successor Liberian law providing for the organization of for-profit corporations, provided that a Concession with respect to mineral or agricultural natural resources (including forestry resources) may be held by a cooperative association of individuals under specified conditions.