diff --git a/packages/plugins/package.json b/packages/plugins/package.json
index c5322911d..3e8c163a1 100644
--- a/packages/plugins/package.json
+++ b/packages/plugins/package.json
@@ -32,7 +32,7 @@
     "@types/fs-extra": "^9.0.13"
   },
   "dependencies": {
-    "@apidevtools/json-schema-ref-parser": "^9.0.9",
+    "@apidevtools/json-schema-ref-parser": "^10.1.0",
     "@jpmorganchase/mosaic-schemas": "^0.1.0-beta.38",
     "@jpmorganchase/mosaic-serialisers": "^0.1.0-beta.38",
     "@jpmorganchase/mosaic-source-git-repo": "^0.1.0-beta.38",
diff --git a/packages/plugins/src/$RefPlugin.ts b/packages/plugins/src/$RefPlugin.ts
index ba4d1ecba..db226dafb 100644
--- a/packages/plugins/src/$RefPlugin.ts
+++ b/packages/plugins/src/$RefPlugin.ts
@@ -1,6 +1,6 @@
 import path from 'path';
-import { reduce, omit, merge, escapeRegExp } from 'lodash-es';
-import $RefParser from '@apidevtools/json-schema-ref-parser';
+import { reduce, omit, escapeRegExp } from 'lodash-es';
+import { $RefParser } from '@apidevtools/json-schema-ref-parser';
 import type { Plugin as PluginType } from '@jpmorganchase/mosaic-types';
 
 import normaliseRefs from './utils/normaliseRefs.js';
@@ -72,16 +72,17 @@ const $RefPlugin: PluginType<RefsPluginPage, unknown, RefsPluginConfigData> = {
   ) {
     mutableFilesystem.__internal_do_not_use_addReadFileHook(async (pagePath: string, fileData) => {
       if (globalConfig.data.globalRefs[pagePath]) {
-        const normalisedRef = merge(
-          await serialiser.deserialise(pagePath, fileData),
-          await normaliseRefs(
-            String(pagePath),
-            globalConfig.data.globalRefs[pagePath],
-            globalFilesystem,
-            pageExtensions,
-            ignorePages
-          )
+        const expandedRefs = await normaliseRefs(
+          String(pagePath),
+          globalConfig.data.globalRefs[pagePath],
+          globalFilesystem,
+          pageExtensions,
+          ignorePages
         );
+
+        const page = await serialiser.deserialise(pagePath, fileData);
+        const normalisedRef = { ...page, ...expandedRefs };
+
         const resolve = createRefResolver(
           {
             [pagePath]: normalisedRef
@@ -96,10 +97,10 @@ const $RefPlugin: PluginType<RefsPluginPage, unknown, RefsPluginConfigData> = {
             resolve,
             dereference: { circular: false }
           });
-          const serialisedPage = await serialiser.serialise(
-            pagePath,
-            merge(normalisedRef, resolved)
-          );
+          const serialisedPage = await serialiser.serialise(pagePath, {
+            ...normalisedRef,
+            ...resolved
+          });
           return serialisedPage;
         } catch (e) {
           console.warn(
@@ -130,16 +131,15 @@ const $RefPlugin: PluginType<RefsPluginPage, unknown, RefsPluginConfigData> = {
           fullPath,
           await mutableFilesystem.promises.readFile(fullPath)
         );
-        normalisedRefs[fullPath] = merge(
-          page,
-          await normaliseRefs(
-            String(fullPath),
-            config.data.refs[fullPath],
-            mutableFilesystem,
-            pageExtensions,
-            ignorePages
-          )
+
+        const expandedRefs = await normaliseRefs(
+          String(fullPath),
+          config.data.refs[fullPath],
+          mutableFilesystem,
+          pageExtensions,
+          ignorePages
         );
+        normalisedRefs[fullPath] = { ...page, ...expandedRefs };
       }
 
       const resolve = createRefResolver(normalisedRefs, serialiser, mutableFilesystem);
diff --git a/yarn.lock b/yarn.lock
index 22e935deb..2a51192bb 100644
--- a/yarn.lock
+++ b/yarn.lock
@@ -15,15 +15,16 @@
     "@jridgewell/gen-mapping" "^0.1.0"
     "@jridgewell/trace-mapping" "^0.3.9"
 
-"@apidevtools/json-schema-ref-parser@^9.0.9":
-  version "9.0.9"
-  resolved "https://registry.yarnpkg.com/@apidevtools/json-schema-ref-parser/-/json-schema-ref-parser-9.0.9.tgz#d720f9256e3609621280584f2b47ae165359268b"
-  integrity sha1-1yD5JW42CWISgFhPK0euFlNZJos=
+"@apidevtools/json-schema-ref-parser@^10.1.0":
+  version "10.1.0"
+  resolved "https://registry.yarnpkg.com/@apidevtools/json-schema-ref-parser/-/json-schema-ref-parser-10.1.0.tgz#bf54494039a56fa7f77fed17dc6f01dfde50f64c"
+  integrity sha512-3e+viyMuXdrcK8v5pvP+SDoAQ77FH6OyRmuK48SZKmdHJRFm87RsSs8qm6kP39a/pOPURByJw+OXzQIqcfmKtA==
   dependencies:
     "@jsdevtools/ono" "^7.1.3"
-    "@types/json-schema" "^7.0.6"
-    call-me-maybe "^1.0.1"
+    "@types/json-schema" "^7.0.11"
+    "@types/lodash.clonedeep" "^4.5.7"
     js-yaml "^4.1.0"
+    lodash.clonedeep "^4.5.0"
 
 "@aws-crypto/crc32@3.0.0":
   version "3.0.0"
@@ -3449,7 +3450,12 @@
     "@types/tough-cookie" "*"
     parse5 "^7.0.0"
 
-"@types/json-schema@^7.0.6", "@types/json-schema@^7.0.9":
+"@types/json-schema@^7.0.11":
+  version "7.0.12"
+  resolved "https://registry.yarnpkg.com/@types/json-schema/-/json-schema-7.0.12.tgz#d70faba7039d5fca54c83c7dbab41051d2b6f6cb"
+  integrity sha512-Hr5Jfhc9eYOQNPYO5WLDq/n4jqijdHNlDXjuAQkkt+mWdQR+XJToOHrsD4cPaMXpn6KO7y2+wM8AZEs8VpBLVA==
+
+"@types/json-schema@^7.0.9":
   version "7.0.11"
   resolved "https://registry.yarnpkg.com/@types/json-schema/-/json-schema-7.0.11.tgz#d421b6c527a3037f7c84433fd2c4229e016863d3"
   integrity sha512-wOuvG1SN4Us4rez+tylwwwCV1psiNVOkJeM3AUWUNWg/jDQY2+HE/444y5gc+jBmRqASOm2Oeh5c1axHobwRKQ==
@@ -3466,6 +3472,13 @@
   dependencies:
     "@types/lodash" "*"
 
+"@types/lodash.clonedeep@^4.5.7":
+  version "4.5.7"
+  resolved "https://registry.yarnpkg.com/@types/lodash.clonedeep/-/lodash.clonedeep-4.5.7.tgz#0e119f582ed6f9e6b373c04a644651763214f197"
+  integrity sha512-ccNqkPptFIXrpVqUECi60/DFxjNKsfoQxSQsgcBJCX/fuX1wgyQieojkcWH/KpE3xzLoWN/2k+ZeGqIN3paSvw==
+  dependencies:
+    "@types/lodash" "*"
+
 "@types/lodash@*":
   version "4.14.189"
   resolved "https://registry.yarnpkg.com/@types/lodash/-/lodash-4.14.189.tgz#975ff8c38da5ae58b751127b19ad5e44b5b7f6d2"
@@ -4556,11 +4569,6 @@ call-bind@^1.0.0, call-bind@^1.0.2:
     function-bind "^1.1.1"
     get-intrinsic "^1.0.2"
 
-call-me-maybe@^1.0.1:
-  version "1.0.1"
-  resolved "https://registry.yarnpkg.com/call-me-maybe/-/call-me-maybe-1.0.1.tgz#26d208ea89e37b5cbde60250a15f031c16a4d66b"
-  integrity sha1-JtII6onje1y95gJQoV8DHBak1ms=
-
 callsites@^3.0.0:
   version "3.1.0"
   resolved "https://registry.yarnpkg.com/callsites/-/callsites-3.1.0.tgz#b3630abd8943432f54b3f0519238e33cd7df2f73"
@@ -8724,6 +8732,11 @@ lodash-es@^4.17.15, lodash-es@^4.17.21:
   resolved "https://registry.yarnpkg.com/lodash-es/-/lodash-es-4.17.21.tgz#43e626c46e6591b7750beb2b50117390c609e3ee"
   integrity sha512-mKnC+QJ9pWVzv+C4/U3rRsHapFfHvQFoFB92e52xeyGMcX6/OlIl78je1u8vePzYZSkkogMPJ2yjxxsb89cxyw==
 
+lodash.clonedeep@^4.5.0:
+  version "4.5.0"
+  resolved "https://registry.yarnpkg.com/lodash.clonedeep/-/lodash.clonedeep-4.5.0.tgz#e23f3f9c4f8fbdde872529c1071857a086e5ccef"
+  integrity sha512-H5ZhCF25riFd9uB5UCkVKo61m3S/xZk1x4wA6yp/L3RFP6Z/eHH1ymQcGLo7J3GMPfm0V/7m1tryHuGVxpqEBQ==
+
 lodash.debounce@^4:
   version "4.0.8"
   resolved "https://registry.yarnpkg.com/lodash.debounce/-/lodash.debounce-4.0.8.tgz#82d79bff30a67c4005ffd5e2515300ad9ca4d7af"