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Electoral Administration Bill

If I can make a little progress, I shall deal with the question of third party loans. The other major difference that requires a different approach is the continuing nature of a regulated transaction. Because regulated transactions involve an ongoing relationship, it is necessary to require the reporting of variations in the terms of the transaction. We have done that in new section 71N. Whenever one of the particulars that are required initially to be reported about a regulated transaction is varied, the party is obliged to record the change in the next transaction report. We believe that that will ensure proper transparency. Otherwise, regulated transactions could, for example, be varied to permit the making of further advances or be put on a zero-interest basis in a way that would not be apparent. We have also imposed a requirement to report when a regulated transaction finally comes to an end. As for third party loans, third parties are already covered during a general election and we have an order-making power in the Bill to deal with third party loans and donations outside that period. I hope that that the hon. Member for Wellingborough (Mr. Bone) is satisfied that such matters are covered by the amendments.