Political Parties, Elections and Referendums Act 2000

[F1 Transaction reports: transactions with authorised participants E+W+S+N.I.

Annotations:

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.

Amendments (Textual)

F1 Sch. 7A inserted (11.9.2006 for E.W.S. for certain purposes, 1.7.2008 for N.I. for certain purposes and 1.7.2009 otherwise) by Electoral Administration Act 2006 (c. 22), ss. 61(7), 77(2), Sch. 1 para 99; S.I. 2006/1972, art. 3, Sch. 1 paras. 20(a), 25(m)(i) (subject to art. 4, Sch. 2) (as amended by S.I. 2006/2268, art. 4); S.I. 2008/1656, arts. 2 (subject to art. 3, Sch. 1); S.I. 2009/1509, art. 2(b) (with art. 3)

9 (1) A regulated participant must prepare a report under this paragraph in respect of each controlled transaction entered into by him which is a recordable transaction. E+W+S+N.I.

(2) For the purposes of this paragraph a controlled transaction is a recordable transaction—

(a) if the value of the transaction is more than [F2 £7,500]( where the regulated participant is a members association) or [F3 £1,500]( in any other case), or

(b) if the aggregate value of it and any other controlled benefit or benefits accruing to the regulated participant—

(i) from the same person and in the same calendar year, and

(ii) in respect of which no report has been previously made under this paragraph,

is more than [F2 £7,500]( where the regulated participant is a members association) or [F3 £1,500]( in any other case).

(3) A controlled benefit is—

(a) a controlled donation within the meaning of paragraph 1(3) of Schedule 7;

(b) a controlled transaction.

(4) A controlled benefit which is a controlled donation accrues—

(a) from the permissible donor (within the meaning of section 54(2) [F4 or (2A)]) who made it, and

(b) when it is accepted by the donee.

(5) A controlled benefit which is a controlled transaction accrues—

(a) from any authorised participant who is a party to it, and

(b) when it is entered into.

(6) For the purposes of this paragraph, if—

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

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

the regulated participant must be treated as having entered into a recordable transaction on the date when the variation takes effect.

(7) A regulated participant must deliver the report prepared in accordance with sub-paragraph (1) to the Commission within the period of 30 days beginning with—

(a) if sub-paragraph (2)(a) applies, the date on which the transaction is entered into;

(b) if sub-paragraph (2)(b) applies, the date on which the benefit which causes the aggregate amount to exceed [F2 £7,500] or (as the case may be) [F3 £1,500].

(8) Each report prepared in accordance with sub-paragraph (1) must—

(a) give the name and address of the regulated participant, and

(b) if he is the holder of a relevant elective office, specify the office in question.

(9) Each such report must also give—

(a) such information as is required to be given, in the case of a report prepared in accordance with section 71M, by virtue of paragraphs 2 [F5 , 2A] and 5(2) and (3) of Schedule 6A;

(b) in relation to a controlled transaction of a description mentioned in paragraph 2(1) or (2) above, such information as is required to be given, in the case of a report prepared in accordance with that section, by virtue of paragraph 6 of that Schedule;

(c) in relation to a controlled transaction of a description mentioned in paragraph 2(3)(b) above, such information as is required to be given, in the case of a report prepared in accordance with that section, by virtue of paragraph 7 of that Schedule;

(d) the date on which the transaction is entered into;

(e) such other information as is required by regulations made by the Commission.

(10) In the application of paragraphs 2, [F5 2A] 5(2) and (3), 6 and 7 of Schedule 6A in accordance with sub-paragraph (9) above—

(a) any reference to a recordable transaction within the meaning of that Schedule must be construed as a reference to a recordable transaction within the meaning of this paragraph;

(b) any reference to section 71G or section 71F(4)(a) must be construed as a reference to paragraph 3 above or paragraph 2(3)(a) above;

(c) any reference to a regulated transaction or a registered party within the meaning of that Schedule must be construed as a reference to a controlled transaction or a regulated participant within the meaning of this paragraph;

(d) any reference to a transaction report within the meaning of that Schedule must be construed as a reference to a report under this paragraph.]

Annotations:

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.

Amendments (Textual)

F2 Sums in Sch. 7A para. 9(2)(a)(b)(7)(b) substituted (1.1.2010) by Political Parties and Elections Act 2009 (c. 12), ss. 20(3), 43; S.I. 2009/3084, art. 4(h)

F3 Sums in Sch. 7A para. 9(2)(a)(b)(7)(b) substituted (1.1.2010) by Political Parties and Elections Act 2009 (c. 12), ss. 20(2), 43; S.I. 2009/3084, art. 4(h)

F4 Words in Sch. 7A para. 9(4)(a) inserted (30.1.2009) by The European Parliamentary Elections (Loans and Related Transactions and Miscellaneous Provisions) (United Kingdom and Gibraltar) Order 2009 (S.I. 2009/185), arts. 1(2), 2(2), Sch. para. 18(3)

F5 Words in Sch. 7A para. 9(9)(a)(10) inserted (1.7.2008) by The Political Parties, Elections and Referendums Act 2000 (Northern Ireland Political Parties) Order 2008 (S.I. 2008/1737), art. 6, Sch. 2 para. 2