C1C2Part 14Control of political donations and expenditure
Pts. 1-39 (except for Pt. 7 and ss. 662-669), 45-47 extended (12.5.2011) by The Companies Act 2006 (Consequential Amendments and Transitional Provisions) Order 2011 (S.I. 2011/1265), art. 5(1), Sch. 1 para. 2
Authorisation required for donations or expenditure
I1367Form of authorising resolution
1
A resolution conferring authorisation for the purposes of this Part may relate to—
a
the company passing the resolution,
b
one or more subsidiaries of that company, or
c
the company passing the resolution and one or more subsidiaries of that company.
2
A resolution may be expressed to relate to all companies that are subsidiaries of the company passing the resolution—
a
at the time the resolution is passed, or
b
at any time during the period for which the resolution has effect,
without identifying them individually.
3
The resolution may authorise donations or expenditure under one or more of the following heads—
a
donations to political parties or independent election candidates;
b
donations to political organisations other than political parties;
c
political expenditure.
4
The resolution must specify a head or heads—
a
in the case of a resolution under subsection (2), for all of the companies to which it relates taken together;
b
in the case of any other resolution, for each company to which it relates.
5
The resolution must be expressed in general terms conforming with subsection (2) and must not purport to authorise particular donations or expenditure.
6
For each of the specified heads the resolution must authorise donations or, as the case may be, expenditure up to a specified amount in the period for which the resolution has effect (see section 368).
7
The resolution must specify such amounts—
a
in the case of a resolution under subsection (2), for all of the companies to which it relates taken together;
b
in the case of any other resolution, for each company to which it relates.
Pt. 14 applied (with modifications) (1.10.2009) by The Unregistered Companies Regulations 2009 (S.I. 2009/2436), regs. 3-5, Sch. 1 para. 16 (with transitional provisions and savings in regs. 7, 9, Sch. 2)