§ Mrs. RocheTo ask the President of the Board of Trade what assessment he has made of the operation of the Companies Act 1985 in relation to the use of associate companies to make political donations; and if he will make a statement.
§ Mr. Neil HamiltonDirectors of a GB parent company are required under section 234 and schedule 7 of the Companies Act 1985 to disclose political donations of more than £200 in aggregate made by the company and its subsidiaries.
Subsidiaries, defined in section 736 of the Act, are bodies corporate under the control of a parent. Associate companies are the subject of significant influence, rather than control. The responsibility for the reporting of political donations made by United Kingdom associate companies lies with the associate company concerned.
I have no plans for any review.