Search Legislation

Interests of Members of the Scottish Parliament (Amendment) Act 2016

What Version

 Help about what version

Advanced Features

 Help about advanced features

Opening Options

 Help about opening options

Changes to legislation:

There are currently no known outstanding effects for the Interests of Members of the Scottish Parliament (Amendment) Act 2016, Section 4. Help about Changes to Legislation

Close

Changes to Legislation

Revised legislation carried on this site may not be fully up to date. At the current time any known changes or effects made by subsequent legislation have been applied to the text of the legislation you are viewing by the editorial team. Please see ‘Frequently Asked Questions’ for details regarding the timescales for which new effects are identified and recorded on this site.

4Loans, credit facilities etc.S

This section has no associated Explanatory Notes

After paragraph 6 of the schedule, there is inserted—

Loans, credit facilities etc.

6A(1)Where a member enters into a controlled transaction and—

(a)the value of the transaction is more than £1,500; or

(b)if not, the aggregate value of it and any aggregable benefit or benefits exceeds £1,500.

(2)Sub-paragraphs (3) to (10) define and provide further about controlled transactions.

(3)An agreement between the member and another person by which that person lends money to the member is a controlled transaction if the use condition (see sub-paragraph (9)) is satisfied.

(4)An agreement between the member and another person by which that person provides a credit facility to the member is a controlled transaction if the use condition (see sub-paragraph (9)) is satisfied.

(5)A credit facility is an agreement whereby a member is enabled to receive from time to time from another party to the agreement a loan of money not exceeding such amount (taking account of any repayments made by the member) as is specified in or determined in accordance with the agreement.

(6)Where—

(a)the member and another person enter into a controlled transaction of a kind mentioned in sub-paragraph (3) or (4) or a transaction under which any property, services or facilities are provided for the use or benefit of the member (including the services of any person);

(b)the other person also enters into an arrangement where a third person gives any form of security for a sum owed to the other person by the member under a transaction mentioned in paragraph (a); and

(c)the use condition (see sub-paragraph (9)) is satisfied,

the arrangement is a controlled transaction.

(7)But the agreement or arrangement is not a controlled transaction—

(a)to the extent that, in accordance with any enactment, a payment made in pursuance of the agreement or arrangement falls to be included in a return as to election expenses in respect of a candidate or candidates at a particular election;

(b)to the extent that it is entered into by the member and a person—

(i)in connection with the provision of goods or services to the member; and

(ii)in the normal course of that person's trade or business and on its normal terms;

(c)if its value does not exceed £500; or

(d)despite section 3(1)(b), it was entered into by the person who is the member before the date the member was returned.

(8)For the purposes of sections 3 and 5 and sub-paragraph (1) of this paragraph, if—

(a)the value of a controlled transaction as first entered into is such that it is not registrable; but

(b)the terms of the transaction are subsequently varied in such a way that it becomes registrable,

the member is to be treated as having entered into a registrable transaction on the date when the variation takes effect.

(9)The use condition is that the member intends, at the time the member enters into the loan or credit facility agreement or the transaction second mentioned in sub-paragraph (6)(a), to use any money or benefit obtained in consequence of it in connection with the member's political activities (either as a member or as a member of a registered political party or both).

(10)For the purposes of sub-paragraph (9), it is immaterial that only part of the money or benefit is intended to be used in connection with the member's political activities.

(11)In sub-paragraph (1)(b), “aggregable benefit” means any of the following that is accepted by the member from the same person, being a party to the controlled transaction, and in the same calendar year as the member accepted the controlled transaction—

(a)any other controlled transaction having a value not exceeding £1,500;

(b)any remuneration that is registrable by virtue of paragraph 2, and has a value exceeding £500 (but not exceeding £1,500) and consisting of—

(i)the payment to the member of expenses incurred directly or indirectly by the member in connection with the member's political activities (as a member or as a member of a registered political party or both); or

(ii)a benefit in kind deriving from the payment by a person (other than the member) to a third party of expenses attributable to the member in connection with those activities;

(c)any gift to which paragraph 6(3)(b)(i) and (c) applies;

(d)any overseas political visit (within the meaning given by sub-paragraph (4), as read with sub-paragraph (5), of paragraph 7) having a value exceeding £500 (but not exceeding £1,500).

Value of loans, credit facilities etc.

6B(1)The value of a controlled transaction which is a loan is the value of the total amount to be lent under the loan agreement.

(2)The value of a controlled transaction which is a credit facility is the maximum amount which may be borrowed under the agreement for the facility.

(3)The value of a controlled transaction which is an arrangement by which any form of security is given is the contingent liability under the security provided.

(4)For the purposes of sub-paragraphs (1) and (2), no account is to be taken of the effect of any provision in a loan agreement or an agreement for a credit facility at the time it is entered into which enables outstanding interest to be added to any sum for the time being owed in respect of the loan or credit facility, whether or not any such interest has been so added..

Annotations: Help about Annotation
Close

Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Commencement Information

I1S. 4 in force at 5.5.2016 by s. 16(2) but see s. 17

Back to top

Options/Help

Print Options

Close

Legislation is available in different versions:

Latest Available (revised):The latest available updated version of the legislation incorporating changes made by subsequent legislation and applied by our editorial team. Changes we have not yet applied to the text, can be found in the ‘Changes to Legislation’ area.

Original (As Enacted or Made):The original version of the legislation as it stood when it was enacted or made. No changes have been applied to the text.

Close

See additional information alongside the content

Geographical Extent: Indicates the geographical area that this provision applies to. For further information see ‘Frequently Asked Questions’.

Show Timeline of Changes: See how this legislation has or could change over time. Turning this feature on will show extra navigation options to go to these specific points in time. Return to the latest available version by using the controls above in the What Version box.

Close

Opening Options

Different options to open legislation in order to view more content on screen at once

Close

Explanatory Notes

Text created by the Scottish Executive department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills

Close

More Resources

Access essential accompanying documents and information for this legislation item from this tab. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • correction slips
  • links to related legislation and further information resources
Close

More Resources

Use this menu to access essential accompanying documents and information for this legislation item. Dependent on the legislation item being viewed this may include:

  • the original print PDF of the as enacted version that was used for the print copy
  • correction slips

Click 'View More' or select 'More Resources' tab for additional information including:

  • lists of changes made by and/or affecting this legislation item
  • confers power and blanket amendment details
  • all formats of all associated documents
  • links to related legislation and further information resources