SCHEDULES

Transaction reports: transactions with authorised participantsU.K.

9(1)A regulated participant must prepare a report under this paragraph in respect of each controlled transaction entered into by him which is a recordable transaction.U.K.

(2)For the purposes of this paragraph a controlled transaction is a recordable transaction—

(a)if the value of the transaction is more than [F2£11,180] (where the regulated participant is a members association) or [F3£2,230] (in any other case), or

(b)if the aggregate value of it and any other controlled benefit or benefits accruing to the regulated participant—

(i)from the same person and in the same calendar year, and

(ii)in respect of which no report has been previously made under this paragraph,

is more than [F4£11,180] (where the regulated participant is a members association) or [F5£2,230] (in any other case).

(3)A controlled benefit is—

(a)a controlled donation within the meaning of paragraph 1(3) of Schedule 7;

(b)a controlled transaction.

(4)A controlled benefit which is a controlled donation accrues—

(a)from the permissible donor (within the meaning of section 54(2) F6...) who made it, and

(b)when it is accepted by the donee.

(5)A controlled benefit which is a controlled transaction accrues—

(a)from any authorised participant who is a party to it, and

(b)when it is entered into.

(6)For the purposes of this paragraph [F7(other than sub-paragraphs (6A) to (6C)) and section 71Z4 (duty not to disclose contents of transaction reports)] , if—

(a)the value of a controlled transaction as first entered into is such that it is not a recordable transaction, but

(b)the terms of the transaction are subsequently varied in such a way that it becomes a recordable transaction,

the regulated participant must be treated as having entered into a recordable transaction on the date when the variation takes effect.

[F8(6A)But if sub-paragraph (6) would otherwise have the effect that a person who is or has been a member or employee of the Commission could make available to the public information to which this sub-paragraph applies, it does not have that effect.

(6B)Sub-paragraph (6A) applies to information—

(a)which has been obtained by the Commission in the exercise of their functions under Part 4A, and

(b)which relates to a controlled transaction to which a Northern Ireland participant is a party and which was entered into before 1 January 2014.

(6C)Information to which sub-paragraph (6A) applies is to be treated for the purposes of sections 71Z4 and 149A (inspection of Commission’s registers etc.: Northern Ireland) as information relating to a transaction to which section 71Z4 applies.]

(7)A regulated participant must deliver the report prepared in accordance with sub-paragraph (1) to the Commission within the period of 30 days beginning with—

(a)if sub-paragraph (2)(a) applies, the date on which the transaction is entered into;

(b)if sub-paragraph (2)(b) applies, the date on which the benefit which causes the aggregate amount to exceed [F9£11,180] or (as the case may be) [F10£2,230].

(8)Each report prepared in accordance with sub-paragraph (1) must—

(a)give the name and address of the regulated participant, and

(b)if he is the holder of a relevant elective office, specify the office in question.

(9)Each such report must also give—

(a)such information as is required to be given, in the case of a report prepared in accordance with section 71M, by virtue of paragraphs 2 [F11, 2A] and 5(2) and (3) of Schedule 6A;

(b)in relation to a controlled transaction of a description mentioned in paragraph 2(1) or (2) above, such information as is required to be given, in the case of a report prepared in accordance with that section, by virtue of paragraph 6 of that Schedule;

(c)in relation to a controlled transaction of a description mentioned in paragraph 2(3)(b) above, such information as is required to be given, in the case of a report prepared in accordance with that section, by virtue of paragraph 7 of that Schedule;

(d)the date on which the transaction is entered into;

(e)such other information as is required by regulations made by the Commission.

[F12(9A)Sub-paragraph (9B) applies in relation to a transaction which—

(a)is entered into by a Northern Ireland participant before 1 July 2017, and

(b)is included in a report under sub-paragraph (1) to which this sub-paragraph applies because it has been varied as described in sub-paragraph (6).

(9B)For the purposes of sub-paragraph (9)(d), the report on the transaction must give—

(a)the date on which the transaction was first entered into, and

(b)the date on which the variation took effect.

(9C)Sub-paragraph (9A) applies to a report which is delivered to the Commission on or after the date on which Article 9 of the Transparency of Donations and Loans etc. (Northern Ireland Political Parties) Order 2018 comes into force.]

(10)In the application of paragraphs 2, [F112A] 5(2) and (3), 6 and 7 of Schedule 6A in accordance with sub-paragraph (9) above—

(a)any reference to a recordable transaction within the meaning of that Schedule must be construed as a reference to a recordable transaction within the meaning of this paragraph;

(b)any reference to section 71G or section 71F(4)(a) must be construed as a reference to paragraph 3 above or paragraph 2(3)(a) above;

(c)any reference to a regulated transaction or a registered party within the meaning of that Schedule must be construed as a reference to a controlled transaction or a regulated participant within the meaning of this paragraph;

(d)any reference to a transaction report within the meaning of that Schedule must be construed as a reference to a report under this paragraph.

[F13(11)In this Schedule, “Northern Ireland participant” means a regulated participant who is—

(a)an individual ordinarily resident in Northern Ireland, or

(b)a members association wholly or mainly consisting of members of a party registered in the Northern Ireland register.]]