F1Part 4ARegulation of loans and related transactions

F2CHAPTER 1

X171OExisting transactions

(1)

This section applies in relation to the first report prepared under section 71M(1) by the treasurer of a party which, at the date on which that section comes into force, is a registered party.

(2)

Sections 71M and 71N have effect, in the case of a person (whether or not an authorised participant) who is a party to an existing transaction, as if—

(a)

that transaction had been entered into in the reporting period to which the report relates;

(b)

any change (as mentioned in section 71N(1) or (3)) to the transaction had occurred during that period;

(c)

references in section 71M to a relevant benefit did not include references to a relevant donation.

(3)

An existing transaction is a regulated transaction which, at the date on which section 71M comes into force, has not come to an end for the purposes of section 71N(1)(c).

F3(4)

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