196. Section 85 of the Principal Act is amended—

(a) by the substitution of the following subsection for subsection (1):

“(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.”,

and

(b) in subsection (2), by the substitution of the following paragraph for paragraph (a):

“(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,

(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

(iii) include all property within the ownership of the political party, and its subsidiary organisations, whether mortgaged, charged, alienated or otherwise encumbered,

and”.