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2. A company or subsidiary undertaking of the description specified in article 3 is exempted from the need to be authorized as mentioned in sections 347C(1), 347D(2), 347D(3) and 347E(2) of the Act(1) (prohibition on donations and political expenditure by companies, special rules for subsidiaries and special rule for parent company of non-GB subsidiary undertaking) in respect of, and only in respect of, the description of EU political expenditure specified in article 4.
Sections 347C to 347E were inserted by section 139(1) of, and Schedule 19 to, the Political Parties, Elections and Referendums Act 2000.
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