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Political Parties, Elections and Referendums Act 2000

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Changes over time for: Cross Heading: Controlled transaction involving unauthorised participant

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No versions valid at: 01/04/2002

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Point in time view as at 01/04/2002. This version of this cross heading contains provisions that are not valid for this point in time. Help about Status

Changes to legislation:

Political Parties, Elections and Referendums Act 2000, Cross Heading: Controlled transaction involving unauthorised participant is up to date with all changes known to be in force on or before 08 March 2025. There are changes that may be brought into force at a future date. Changes that have been made appear in the content and are referenced with annotations. Help about Changes to Legislation

Yn ddilys o 11/09/2006

[F1Controlled transaction involving unauthorised participantU.K.

Textual Amendments

F1Sch. 7A inserted (11.9.2006 for E.W.S. for specified purposes except for the insertion of Sch. 7A para. 16, 1.7.2008 for N.I. for specified purposes, 1.7.2009 for the insertion of Sch. 7A para. 16 for specified purposes, 4.5.2016 for the insertion of Sch. 7A para. 16 for specified purposes) by Electoral Administration Act 2006 (c. 22), ss. 61(7), 77(2), Sch. 1 para 99; S.I. 2006/1972, art. 3, Sch. 1 paras. 20(a), 25(m)(i) (subject to art. 4, Sch. 2) (as amended by S.I. 2006/2268, art. 4); S.I. 2008/1656, arts. 2 (subject to art. 3, Sch. 1); S.I. 2009/1509, art. 2(b) (with art. 3); S.I. 2016/551, art. 2(b) (with art. 3)

5(1)This paragraph applies if a regulated participant is a party to a controlled transaction in which another participant is not an authorised participant.U.K.

(2)The transaction is void.

(3)Despite sub-paragraph (2)—

(a)any money received by the regulated participant by virtue of the transaction must be repaid by the regulated participant to the person from whom it was received, along with interest at such rate as is determined in accordance with an order made by the Secretary of State;

(b)that person is entitled to recover the money, along with such interest.

(4)If—

(a)the money is not (for whatever reason) repaid as mentioned in sub-paragraph (3)(a), or

(b)the person entitled to recover the money refuses or fails to do so,

the Commission may apply to the court to 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.

(5)In the case of a controlled transaction where a party other than a regulated participant—

(a)at the time the regulated participant enters into the transaction, is an authorised participant, but

(b)subsequently, for whatever reason, ceases to be an authorised participant,

the transaction is void and sub-paragraphs (3) and (4) apply with effect from the time when the other party ceased to be an authorised participant.

(6)This paragraph does not apply to a controlled transaction if it was entered into before the commencement of section 61 of the Electoral Administration Act 2006.]

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