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Amendment of section 85 of Principal Act
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196. Section 85 of the Principal Act is amended—
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(a) by the substitution of the following subsection for subsection (1):
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“(1) Subject to section 91(1), the appropriate officer shall prepare a statement of accounts for the political party concerned and itssubsidiary organisations (in this Part referred to as the ‘annual statement of accounts’) in respect of each financial year.”,
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and
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(b) in subsection (2), by the substitution of the following paragraph for paragraph (a):
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“(a) (i) comply with such requirements as to its form and contents (including any requirements provided for under FRS 102) as may be provided for in guidelines,
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(ii) include a breakdown of the aggregate amount of donations received by the political party and each of its subsidiary organisations as provided for in guidelines, and
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(iii) include all property within the ownership of the political party, and its subsidiary organisations, whether mortgaged, charged, alienated or otherwise encumbered,
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and”.
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