According to the PMBOK Guide, the project team is responsible for conducting procurement activities, such as planning, conducting, controlling, and closing procurements. This includes reviewing and updating the contracts as needed to ensure compliance with the project requirements and the applicable laws and regulations. The project manager should also involve the legal department and other relevant stakeholders in the contract review process to avoid any potential issues or disputes. Therefore, if the contract violates a new law that was passed last year, it means that the project team has not performed an adequate review of the contract before renewing it, and has failed to identify and mitigate the risk of non-compliance. References:

PMBOK Guide, Chapter 12, Section 12.1, Plan Procurement Management

PMBOK Guide, Chapter 12, Section 12.2, Conduct Procurements

PMBOK Guide, Chapter 12, Section 12.3, Control Procurements

PMBOK Guide, Chapter 12, Section 12.4, Close Procurements

PBA Guide, Chapter 5, Section 5.3.2, Contract Review and Approval