Part 4A

Regulation of loans and related transactions

CHAPTER 1

Exemption from requirement to prepare quarterly reports
71P
1
This section applies if each of four consecutive transaction reports prepared by the treasurer of a registered party in pursuance of subsection (1) of section 71M contains—
a
in the case of a party without accounting units, a statement under subsection (10) of that section and a statement under subsection (4) of section 71N, or
b
in the case of a party with accounting units, statements under each of those subsections in relation to the central organisation of the party and each of its accounting units.
2
The treasurer is not required to prepare any further transaction reports in pursuance of subsection (1) of section 71M until—
a
a recordable transaction is entered into by the registered party, or
b
a recordable change is made to a recorded transaction.
3
A recordable transaction is a transaction which is required to be recorded by virtue of any of subsections (4) to (9) of section 71M (including those subsections as applied by subsection (11) of that section).
4
A recordable change is a change which is required to be recorded by virtue of subsection (1) of section 71N (including that subsection as applied by subsection (6) of that section).
5
If a recordable transaction is entered into or a recordable change is made, nothing in this section affects the operation of section 71M or 71N in relation to—
a
the reporting period in which the recordable transaction is entered into or the recordable change is made, or
b
any subsequent reporting period which falls before the time (if any) when this section again applies in relation to the party.
6
In this section—
- “
transaction report
” and “
reporting period
” have the same meaning as in section 71M;
- “
recorded transaction
” has the same meaning as in section 71N.
Pt. 4A (ss. 71F-71X) inserted (11.9.2006 for E.W.S. for specified purposes, 1.1.2007 for N.I. for specified purposes, 1.7.2008 for N.I. for specified purposes, 15.9.2014 for N.I. in so far as not already in force) by Electoral Administration Act 2006 (c. 22), ss. 61(1), 77(2); S.I. 2006/1972, art. 3, Sch. 1 para. 20(a) (subject to art. 4, Sch. 2) (as substituted by S.I. 2006/2268, art. 3); S.I. 2006/3412, art. 4 (subject to art. 6, Sch. 2); S.I. 2008/1656, art. 2 (subject to art. 3, Sch. 1); S.I. 2014/1809, art. 2
Pt. 4A (ss. 71F-71Y) renumbered (1.7.2008) as Pt. 4A Ch. 1 by The Electoral Administration Act 2006 (Regulation of Loans etc: Northern Ireland) Order 2008 (S.I. 2008/1319), arts. 1(2), 3(1)
The insertion of the new heading "Chapter 1" in Pt. 4A on 1.7.2008 gives rise to a change in the structure of this legislation on SLD which breaks the continuity of historical versions of the existing provisions which are now brought under that new heading.
Pt. 4A modified (1.2.2016) by European Union Referendum Act 2015 (c. 36), s. 13(2), Sch. 2 para. 10(2); S.I. 2016/69, reg. 2
Pt. 4A modified (1.2.2016) by European Union Referendum Act 2015 (c. 36), s. 13(2), Sch. 1 para. 28; S.I. 2016/69, reg. 2