SCHEDULE 1PROVISIONS OF THE COMPANIES ACTS APPLYING TO UNREGISTERED COMPANIES
Political donations and expenditure9
1
Sections 362 to 379 of the Companies Act 2006 (control of political donations and expenditure) apply to unregistered companies, with the following modifications.
2
In section 369(5)
(liability of directors to make good unauthorised donations or expenditure: interest), in paragraph (b) for “such rate as the Secretary of State may prescribe by regulations” substitute, “
the rate specified in the Companies (Interest Rate for Unauthorised Political Donations or Expenditure) Regulations 2007 (S.I. 2007/2242)
”
.
3
In section 377 (exemption of certain political expenditure)—
a
in subsection (1) for “an order of the Secretary of State under this section” substitute “
articles 3 and 4 of the Companies (Political Expenditure Exemption) Order 2007 (S.I. 2007/2081)
”
;
b
omit subsection (2);
c
in subsection (3) for “an order under this section” substitute “
the articles mentioned in subsection (1)
”
;
d
omit subsection (4).