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[4(1)A regulated participant must not—U.K.
(a)be a party to a controlled transaction to which any of the other parties is not an authorised participant;
(b)derive a benefit in consequence of a connected transaction if any of the parties to that transaction is not an authorised participant.
(2)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.
(3)In this Schedule, an authorised participant is a person who is a permissible donor within the meaning of section 54(2).
[(3A)A person who is a permissible donor within the meaning of section 54(2A) is also an authorised participant if—
(a)the regulated transaction is entered into by—
(i)a member of a registered party; or
(ii)a members association whose membership consists wholly or mainly of members of a registered party,
and the party is a Gibraltar party whose entry in the register includes a statement that it intends to contest one or more elections to the European Parliament in the combined region; or
(b)the regulated transaction is entered into by a member of the European Parliament elected in the combined region.
(3B)In its application for the purposes of this Part by virtue of subsection (3A), section 54(2A) has effect as if for “the donation is received” there were substituted the regulated transaction is entered into.]
(4)The Secretary of State may, by order, specify circumstances or any description of circumstances in which a person who is not a permissible donor is to be treated as an authorised participant.]