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The European Parliamentary Elections (Loans and Related Transactions and Miscellaneous Provisions) (United Kingdom and Gibraltar) Order 2009

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3.  After section 71G(1) (valuation of regulated transaction), insert—

“Prohibition on increase in value of Gibraltar regulated transaction following European parliamentary election

71GA.—(1) This section applies to a Gibraltar regulated transaction which is entered into within the permitted period and which does not fall to be dealt with by section 71HA.

(2) A registered party which is not a Gibraltar party shall not, whether during the permitted period or otherwise, enter into an arrangement with any person which has the effect, on or after the date of the poll for an election to the European Parliament in the combined region, of increasing the value of a transaction to which this section applies or which enables that value to be increased.

(3) Where such a party enters into an arrangement contrary to subsection (2), the related transaction is to be treated for the purposes of this Part (other than this section) as if it was entered into with a participant who is not an authorised participant within the meaning of section 71H(3A).

(4) This section does not apply to an arrangement entered into before the commencement of the European Parliamentary Elections (Loans and Related Transactions and Miscellaneous Provisions) (United Kingdom and Gibraltar) Order 2009.”.

(1)

Sections 71F to 71X of the 2000 Act were inserted by section 61(1) of the 2006 Act.

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