Statutory Instruments
2012 No. 1464
Local Government, England
The Relevant Authorities (Disclosable Pecuniary Interests) Regulations 2012
Made
6th June 2012
Laid before Parliament
8th June 2012
Coming into force
1st July 2012
The Secretary of State, in exercise of the powers conferred by sections 30(3) and 235(2) of the Localism Act 2011( 1 ), makes the following Regulations.
Citation, commencement and interpretation
1. —(1) These Regulations may be cited as the Relevant Authorities (Disclosable Pecuniary Interests) Regulations 2012 and shall come into force on 1st July 2012.
(2) In these regulations—
“the Act” means the Localism Act 2011 ;
“body in which the relevant person has a beneficial interest” means a firm in which the relevant person is a partner or a body corporate of which the relevant person is a director, or in the securities of which the relevant person has a beneficial interest;
“director” includes a member of the committee of management of an industrial and provident society;
“land” excludes an easement, servitude, interest or right in or over land which does not carry with it a right for the relevant person (alone or jointly with another) to occupy the land or to receive income;
“M” means a member of a relevant authority;
“member” includes a co-opted member;
“relevant authority” means the authority of which M is a member;
“relevant period” means the period of 12 months ending with the day on which M gives a notification for the purposes of section 30(1) or section 31(7), as the case may be, of the Act;
“relevant person” means M or any other person referred to in section 30(3)(b) of the Act;
“securities” means shares, debentures, debenture stock, loan stock, bonds, units of a collective investment scheme within the meaning of the Financial Services and Markets Act 2000 ( 2 ) and other securities of any description, other than money deposited with a building society.
Specified pecuniary interests
2. The pecuniary interests which are specified for the purposes of Chapter 7 of Part 1 of the Act are the interests specified in the second column of the Schedule to these Regulations.
Signed by authority of the Secretary of State for Communities and Local Government
Grant Shapps
Minister of State
Department for Communities and Local Government
6th June 2012
Regulation 2
SCHEDULE
| Subject | Prescribed description |
|---|---|
| Employment, office, trade, profession or vocation |
Any employment, office, trade, profession or vocation carried on for profit or gain. |
| Sponsorship |
Any payment or provision of any other financial benefit (other than from the relevant authority) made or provided within the relevant period in respect of any expenses incurred by M in carrying out duties as a member, or towards the election expenses of M. This includes any payment or financial benefit from a trade union within the meaning of the Trade Union and Labour Relations (Consolidation) Act 1992( 3 ). |
| Contracts |
Any contract which is made between the relevant person (or a body in which the relevant person has a beneficial interest) and the relevant authority— (a)
under which goods or services are to be provided or works are to be executed; and (b)
which has not been fully discharged. |
| Land |
Any beneficial interest in land which is within the area of the relevant authority. |
| Licences |
Any licence (alone or jointly with others) to occupy land in the area of the relevant authority for a month or longer. |
| Corporate tenancies |
Any tenancy where (to M’s knowledge)— (a)
the landlord is the relevant authority; and (b)
the tenant is a body in which the relevant person has a beneficial interest. |
| Securities |
Any beneficial interest in securities of a body where— (a)
that body (to M’s knowledge) has a place of business or land in the area of the relevant authority; and (b)
either— (i)
the total nominal value of the securities exceeds £25,000 or one hundredth of the total issued share capital of that body; or (ii)
if the share capital of that body is of more than one class, the total nominal value of the shares of any one class in which the relevant person has a beneficial interest exceeds one hundredth of the total issued share capital of that class. |