§ PPERA 2000 Sch. 7A ¶ 4A(untitled)

1 A regulated participant must not be a party to a controlled transaction to which this paragraph applies unless the regulated participant has received a written declaration from each of the other parties to the transaction who is an individual stating that the individual satisfies the condition set out in section 54(2ZA). 2 This paragraph applies to a controlled transaction— a if the value of the transaction is more than £7,500, or b if the aggregate amount of it and any other relevant benefit or benefits accruing in the same calendar year as the transaction is more than £7,500. 3 For the purposes of sub-paragraph (2) “relevant benefit” and “accruing” have the meaning given by section 71M(3). 4 A declaration under this paragraph must also state the full name and address of the person by whom it is made. 5 A person who knowingly or recklessly makes a false declaration under this paragraph commits an offence. 6 The Secretary of State may by regulations make provision requiring a declaration under this paragraph to be retained for a specified period. 7 The reference in sub-paragraph (1) to each of the other parties to the transaction does not include any individual who, at the time the transaction is entered into, is an authorised participant in relation to it by reason of section 71Z1(1)(a).