Declaration os assets and liabilities to be provided on application for registration

(1) Section 28 of PPERA (registration of parties) is amended in accordancewith subsections (2) to (4).
(2) In subsection (1)—

(a) omit the “and” after paragraph (a);
(b) after paragraph (b) insert “, and
(c) (subject to subsection (3E)) is accompanied by a declarationfalling within subsection (3B).”

(3) Before subsection (4) insert—

“(3B) The declarations falling within this subsection are—

(a) a declaration that, to the best of the proposed registered treasurer’sknowledge and belief, the assets/liabilities condition is met in relationto the party;
(b) a declaration that, to the best of the proposed registered treasurer’sknowledge and belief, the assets/liabilities condition is not met inrelation to the party.

(3C) The assets/liabilities condition is met in relation to a party if—

(a) the total value of the party’s assets does not exceed £500, and
(b) the total amount of the party’s liabilities does not exceed £500.

(3D) A declaration within subsection (3B)(b) must be accompanied by a recordof the party’s assets and liabilities; and that record must comply with suchrequirements as to its form and contents as may be prescribed by regulationsmade by the Commission.
(3E) Subsection (1)(c) does not apply to an application under this section made inpursuance of a declaration falling within subsection (2)(d) (and subsections(3D) and (8A) to (8C) are accordingly to be disregarded in relation to suchan application).”

(4) After subsection (8) insert—

“(8A) Subsections (8B) and (8C) apply where—
(a) the Commission grant an application by a party under this section, and
(b) the application was accompanied by a declarationwithin subsection (3B)(b).
(8B) The Commission must ensure that the party’s entry in the register is markedso as to indicate that its application was accompanied by a declarationwithin subsection (3B)(b).
(8C) The Commission must—

(a) as soon as reasonably practicable after granting the application, makea copy of the record of assets and liabilities provided by the partyunder subsection (3D) available for public inspection, and
(b)keep the copy available for public inspection for such period as theCommission think fit.”

(5) In section 34 of PPERA (registration of minor parties), in subsection (8)(c)(i), for“sections 28(4) to (8)” substitute “sections 28(1)(c) and (3B) to (8C)”.