Part 4A

Regulation of loans and related transactions

CHAPTER 1

Submission of transaction reports to Commission
71S
1
A transaction report under section 71M must be delivered to the Commission by the treasurer of the party in question within the period of 30 days beginning with the end of the reporting period to which it relates.
2
A transaction report under section 71Q must be delivered to the Commission by the treasurer of the party in question—
a
within the period of 7 days beginning with the end of the reporting period to which it relates, or
b
if that is not possible in the case of any party to which section 71Q applies by virtue of section 64(5) (as applied by section 71R), within the period of 7 days beginning with the first day on which the party has a candidate at the election in question.
3
If a transaction report under section 71M or 71Q states that the registered party has seen evidence of such description as is prescribed by the Secretary of State in regulations that an individual participant has an anonymous entry in the electoral register (within the meaning of the Representation of the People Act 1983
...
), the report must be accompanied by a copy of the evidence.
4
The treasurer of a registered party commits an offence if
, without reasonable excuse,
he fails to comply with the requirements of subsection (1) or (2) in relation to a transaction report.
5
The treasurer of a registered party also commits an offence if
, without reasonable excuse,
he delivers a transaction report to the Commission which does not comply with any requirements of this Part as regards the recording of transactions, or changes to transactions, in such a report.
6. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
7
Where the court is satisfied, on an application made by the Commission, that any failure to comply with any such requirements in relation to—
a
any transaction entered into by a registered party, or
b
any change made to a transaction to which the registered party is a party,
was attributable to an intention on the part of any person to conceal the existence or true value of the transaction, the court may make such order as it thinks fit to restore (so far as is possible) the parties to the transaction to the position they would have been in if the transaction had not been entered into.
8
An order under subsection (7) may in particular—
a
where the transaction is a loan or credit facility, require that any amount owed by the registered party be repaid (and that no further sums be advanced under it);
b
where any form of security is given for a sum owed under the transaction, or the transaction is an arrangement by which any form of security is given, require that the security be discharged.
9
The reference in subsection (2) to a party having a candidate at an election must be construed in accordance with section 64(9).
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.
Words in s. 71S(4)(5) inserted (1.1.2010) by Political Parties and Elections Act 2009 (c. 12), ss. 13(4)(a), 43; S.I. 2009/3084, art. 4(b) (with art. 5)
S. 71(S)(6) repealed (1.1.2010) by Political Parties and Elections Act 2009 (c. 12), ss. 13(4)(b), 39, 43, Sch. 7; S.I. 2009/3084, art. 4(b)(k) (with art. 5)
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
Words in s. 71S(3) repealed (31.12.2020) by The European Parliamentary Elections Etc. (Repeal, Revocation, Amendment and Saving Provisions) (United Kingdom and Gibraltar) (EU Exit) Regulations 2018 (S.I. 2018/1310), reg. 1, Sch. 1 Pt. 1 (as amended by S.I. 2019/1389, regs. 1, 2(2))