(1)This section applies in relation to the first report prepared under section 71M(1) by the treasurer of a party which, at the date on which that section comes into force, is a registered party.
(2)Sections 71M and 71N have effect, in the case of a person (whether or not an authorised participant) who is a party to an existing transaction, as if—
(a)that transaction had been entered into in the reporting period to which the report relates;
(b)any change (as mentioned in section 71N(1) or (3)) to the transaction had occurred during that period;
(c)references in section 71M to a relevant benefit did not include references to a relevant donation.
(3)An existing transaction is a regulated transaction which, at the date on which section 71M comes into force, has not come to an end for the purposes of section 71N(1)(c).
Editorial Information
X1The 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.