Cap.22:22 Jonrr Veurunes No.6/2015 from proposed counterparties in accordance with the law relating . to public Procuremenfi or (ii) two or more proposed counterparties have been identifiedA. select one of the proposed counterparties as the counterparty in the joint venture agreement; or B. direct the contracting authority to receive tenders for the project from proposed counterparties in accordance with the law relating to public procurement. (4) Notwithstanding anything in this Act a contracting authority may, subject t+ pricr aT4eavalby the &{inister, i*vite special formal tenders" in accordance with regrlations made under section 15 , only in the following cases (a) - the requirements are of a proprietary nature and the names of likely suppliers are known; (b) (c) 9 nature; concern national security' projects which in the opinion of the Minister are of specialist projects which in the opinion of the Minister f\- FeasibilitY studY (1) Where a contracting authority considers that a project may be implemented under a joilt vertue agreement, it shall undertake or cause to be undertaken a feasibility study, to assess whether the proposed project is feasible as ajoint venture project' (2) A feasibility studY shall- (a) clemonstrate the advantages of implementing the project under a joint venture agreement; and (b) describe in sPecific (i) terrns- the nature of the contracting authority's functions, the specific functions to be considered in relation to the project, and the expected inputs and deliverables; and (ii) the extent to which those functions can lawfully and effectively be performed by a counterparty in terms of an agreement; and (iii) the most appropriate form by which the contracting authority implemeni ihe project uncler an agreement; may and (c) demonsffate that the project will- (i) be affordable to the contracting authority; and (ii) provide value for moneY; and (iii) optimally transfer technical, operational or fi.nancial risk to the counterparty; and (d) explain the capacity ofthe contracting authority to effectively enforce the agreement, including the ability to monitor and regulate project implementation and the performance of the counterparty in terms of the agreement. 10 Joint venture agreement any other enactment but subject to this Act, a contracting with a counterparty for the performance of one an agreement into enter may authority authority' confacting or more of the functions of that (l) Notrvithstanding 140 'r-'