Political Parties, Elections and Referendums Act 2000

Valid from 11/09/2006

71P X1 Exemption from requirement to prepare quarterly reports U.K.

(1) This section applies if each of four consecutive transaction reports prepared by the treasurer of a registered party in pursuance of subsection (1) of section 71M contains—

(a) in the case of a party without accounting units, a statement under subsection (10) of that section and a statement under subsection (4) of section 71N, or

(b) in the case of a party with accounting units, statements under each of those subsections in relation to the central organisation of the party and each of its accounting units.

(2) The treasurer is not required to prepare any further transaction reports in pursuance of subsection (1) of section 71M until—

(a) a recordable transaction is entered into by the registered party, or

(b) a recordable change is made to a recorded transaction.

(3) A recordable transaction is a transaction which is required to be recorded by virtue of any of subsections (4) to (9) of section 71M (including those subsections as applied by subsection (11) of that section).

(4) A recordable change is a change which is required to be recorded by virtue of subsection (1) of section 71N (including that subsection as applied by subsection (6) of that section).

(5) If a recordable transaction is entered into or a recordable change is made, nothing in this section affects the operation of section 71M or 71N in relation to—

(a) the reporting period in which the recordable transaction is entered into or the recordable change is made, or

(b) any subsequent reporting period which falls before the time (if any) when this section again applies in relation to the party.

(6) In this section—

• “transaction report” and “reporting period” have the same meaning as in section 71M;

• “recorded transaction” has the same meaning as in section 71N.

Editorial Information

X1 The 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.