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—
(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.