(1) The secretary of the Finance and Administration Cabinet is authorized to issue regulations permitting or requiring the insertion, in contracts for the procurement of supplies or services, of appropriate clauses to enable the Commonwealth to effect desired changes and modifications to such contracts.
(2) The secretary is authorized to issue regulations relating to the termination of contracts for the procurement of supplies or services for the default of the contractor.
(3) The secretary is authorized to issue regulations relating to the termination of contracts for the procurement of supplies or services for the convenience of the Commonwealth.