79.Section 16 amends Schedule 7A to the 2000 Act, which makes provision in relation to control of loans to members associations.
80.Subsection (2) inserts new sub-paragraphs (7A), (7B) and (7C) into paragraph 1 of Schedule 7A. These replicate in their effect the provisions inserted into Schedule 7 by section 12 of this Act. In particular, these provisions replicate the effect of the provisions in Schedule 7 which create the offence of failure to appoint a responsible person and which make either the responsible person or a members association liable for failure to comply with reporting requirements.
81.Additionally, a notice under paragraph 1A of Schedule 7 to appoint a responsible person in relation to donations above the threshold will also have effect as a notice under Schedule 7A in relation to controlled recordable transactions (and vice versa).