SCHEDULES

C1SCHEDULE 7 Matters to be Dealt With in Directors’ Report

Annotations:
Modifications etc. (not altering text)
C1

Sch. 7 (except paras. 2, 7 and 8) applied with modifications by S.I. 1985/680, regs. 4–6, Sch.

Part I Matters of a General Nature

F2 Political donations and expenditure

Annotations:
Amendments (Textual)
F2

Sch. 7 Pt. I paras. 3-5 and cross-headings preceding paras. 3, 5 substituted (16.2.2001) for Sch. 7 Pt. I paras. 3-5 and cross-heading preceding para. 3 by 2000 c. 41, s. 140 (with s. 156(6), Sch. 23 para. 13); S.I. 2001/222, art. 2, Sch. 1 Pt. I (subject to transitional provisions in Sch. 1 Pt. II)

F14

1

If the company (not being the wholly-owned subsidiary of a company incorporated in Great Britain) has in the financial year made any contribution to a non-EU political party, the directors’ report for the year shall contain—

a

a statement of the amount of the contribution, or

b

(if it has made two or more such contributions in the year) a statement of the total amount of the contributions.

2

If—

a

at the end of the financial year the company has subsidiaries which have, in that year, made any such contributions as are mentioned in sub-paragraph (1), and

b

it is not itself the wholly-owned subsidiary of a company incorporated in Great Britain,

the directors’ report for the year is not, by virtue of sub-paragraph (1), required to contain any such statement as is there mentioned, but it shall instead contain a statement of the total amount of the contributions made in the year by the company and the subsidiaries between them.

3

In this paragraph “contribution”, in relation to an organisation, means—

a

any gift of money to the organisation (whether made directly or indirectly);

b

any subscription or other fee paid for affiliation to, or membership of, the organisation; or

c

any money spent (otherwise than by the organisation or a person acting on its behalf) in paying any expenses incurred directly or indirectly by the organisation.

4

In this paragraph “non-EU political party” means any political party which carries on, or proposes to carry on, its activities wholly outside the member States.