(1) This section is about contracts for--
(a) the supply of goods or services; or
(b) the carrying out of work; or
(c) the disposal of assets.
(2) When entering into a contract, a local government must have regard to the sound contracting principles.
(3) The sound contracting principles are--
(a) value for money; and
(b) open and effective competition; and
(c) the development of competitive local business and industry; and
(d) environmental protection; and
(e) ethical behaviour and fair dealing.