SCHEDULES

SCHEDULE 5 Accounting units: application of accounting requirements

Introductory

1

1

This Schedule provides for the application of sections 41 to 48 in a case where a registered party is a party with accounting units.

2

For the purposes of this Schedule all or any of the following are financial matters relating to a party or (as the case may be) an accounting unit, namely—

a

its transactions and financial position; and

b

its assets and liabilities.

3

For the purposes of this Schedule, and any provision as applied by this Schedule, an accounting unit’s financial year is the same as that of the party.

4

In this Schedule “treasurer”, in relation to an accounting unit, means the person specified in the Great Britain or Northern Ireland register as the unit’s treasurer.

5

If any question arises under this Schedule as to whether, in relation to any matter, anything falls to be done by the treasurer of a party or by the treasurer of an accounting unit, it shall be determined by the Commission.