SECTION 168

(1) In case of overrun of the contractual period attributable to the contract holder, he shall be liable to a delay penalty the amount of which shall be fixed as follows, except otherwise specified in the contract: (a) 1/2000th (one two thousandth) of the initial contract tax-inclusive amount per calendar day of delay from the first to the thirtieth day beyond the contract period; (b) 1/1000th (one thousandth) of the initial contract tax-inclusive amount per calendar day of delay beyond the thirtieth day. 65 (2) For conditional tranche contracts, the periods and amounts to be taken into account shall be those of the tranche under consideration. (3) The remission of contract delay penalties may be decided by the Project Owner or the Delegated Project Owner only after the contract delay penalties of the public contracts regulatory body. (4) A copy of the penalty remission decision, backed by the above-mentioned contract delay penalties, shall be forwarded to the public contracts regulatory body for all intents and purposes.