6(1)Where a member or a company in which the member has a controlling interest or a partnership of which the member is a partner, receives, or has received, a gift of heritable or moveable property or a gift of a benefit in kind and—S
(a)the value of the gift, at the date on which it was received, exceeds 1 per cent of a member's salary on that date (rounded down to the nearest £10); and
(b)that gift meets the prejudice test.
(2)Sub-paragraph (1) does not apply to the costs of travel and subsistence in connection with the member's attendance at a conference or meeting where those costs are borne in whole or in part by—
(a)the organiser of that conference; or
(b)one of the other parties attending that meeting,
as the case may be.
(3)For the purposes of sub-paragraph (1), “controlling interest” means, in relation to a company, shares carrying in the aggregate more than half of the voting rights exercisable at general meetings of the company.
Commencement Information
I1This provision comes into force in accordance with s. 21(4)