1. If the winning tenderer or tenderers set up a project-company in order to perform the contract, it shall be stipulated in the contract that the project-company shall enjoy the rights and assume the obligations set out therein from the date of its establishment; the contracting parties shall make the necessary arrangements therefor. In this case, the subcontractors named in the tender shall conclude the contract, which is required for the performance of the contract, with the project-company.
2. Otherwise, the rules pertaining to public contracts shall be applied to the contract concluded between the party entering into the contract as contracting authority and the project-company, in particular the provisions set out by this Act or by other acts of legislation concerning the public nature of contracts, the mandatory contents and any amendment to contracts, as well as the control of performance of contracts.
3. The project-company and the winning tenderer or tenderers are jointly and severally liable for the performance of the contract.
4. The project-company shall perform activities and conclude contracts only in order to perform the contract, it may not acquire share in another economic organisation, nor may undergo a transformation, division or merger with another legal person.
5. Only the winning tenderer or tenderers may acquire a share in the project-company, except if the contracting authority indicates in the notice launching the procedure that the project-company shall be established by the winning tenderer or tenderers together with the contracting authority. The subscribed capital and the assets other than the subscribed capital, excluding the dividend, may not be deprived by the founders.
6. The winning tenderer or tenderers may terminate the project-company, if
a) the project-company has performed the requirements set out in the contract, furthermore, the project-company and the contracting authority have performed their obligations regarding settling accounts with one another, or
b) the winning tenderer or tenderers have completely taken over from the project-company the rights and obligations deriving from the contract and from the contract concluded to perform the contract.
7. The party having entered into the contract as contracting authority may terminate the contract, if it stipulated that the successful tenderer must set up a business organisation and the tenderer does not arrange for the registration of the conclusion of the articles of incorporation or the acceptance of the articles of association with the Court of Registry within twenty days following the conclusion of the contract.
8. Where the contract also falls within the scope of the Act on Concessions, the provisions set out in this Article shall apply subject to the derogations according to the provisions on concession contracts and concession companies laid down in the Act on Concessions.
9. All those members of the project-company who have actually taken part in the performance may present the performance of the project-company as reference for the certification of suitability or as revenue, according to the proportion of their participation in the performance, even if the project-company has since been dissolved.