Electoral Administration Act 2006

62 Regulation of loans: power to make provision for candidates, third parties and referendums

(1) The Secretary of State may by order make in relation to a relevant matter such provision as he thinks appropriate which corresponds to or is similar to any provision of Part 4A of or Schedule 7A to the 2000 Act (the relevant transaction provisions).

(2) A relevant matter is a loan, credit facility or any form of security (whether real or personal) which benefits—

(a) a candidate at an election;

(b) a recognised third party;

(c) a permitted participant in a referendum.

(3) An order under this section may—

(a) amend or repeal any enactment (whenever passed);

(b) create an offence corresponding or similar to any offence created by the relevant transaction provisions;

(c) confer power on the Secretary of State to make provision by order corresponding to any such power in the relevant transaction provisions;

(d) make different provision for different purposes;

(e) make such supplemental, incidental, consequential, transitional or savings provision as the Secretary of State thinks necessary or expedient in connection with the order.

(4) An order under this section which confers power to make an order by virtue of subsection (3)(c) must require the order—

(a) to be made by statutory instrument;

(b) not to be made unless a draft of the instrument containing the order has been laid before and approved by resolution of each House of Parliament.

(5) Subsection (4) does not apply to any power to make provision determining a rate of interest.

(6) The power to make an order under this section is exercisable by statutory instrument.

(7) No such order may be made unless a draft of the instrument containing the order has been laid before and approved by resolution of each House of Parliament.

(8) In this section—

• “candidate” has the same meaning as in Part 2 of the 1983 Act;

• “credit facility” must be construed in accordance with section 71F(11) of the 2000 Act;

• “election” has the same meaning as in section 202 of the 1983 Act;

• “permitted participant” has the same meaning as in Part 7 of the 2000 Act;

• “recognised third party” has the same meaning as in Part 6 of that Act.

(9) An order under this section must not make provision which is within the legislative competence of the Scottish Parliament.

(10) Subsection (9) does not apply to provision made by virtue of subsection (3)(e).