2.—(1) ”Donation”, in relation to a candidate at an Assembly election, means (subject to paragraph 4)—
(a)any gift to the candidate or his election agent of money or other property;
(b)any sponsorship provided in relation to a candidate (as defined by paragraph 3);
(c)any money spent (otherwise than by the candidate, his election agent or any sub-agent) in paying any election expenses incurred by or on behalf of the candidate;
(d)any money lent to the candidate or his election agent otherwise than on commercial terms; or
(e)the provision otherwise than on commercial terms of any property, services or facilities for the use or benefit of the candidate (including the services of any person).
(2) Where—
(a)any money or other property is transferred to a candidate or his election agent pursuant to any transaction or arrangement involving the provision by or on behalf of the candidate of any property, services or facilities or other consideration of monetary value; and
(b)the total value in monetary terms of the consideration so provided by or on behalf of the candidate is less than the value of the money or (as the case may be) the market value of the property transferred,
the transfer of the money or property shall (subject to sub-paragraph (4)) constitute a gift to the candidate or (as the case may be) his election agent for the purposes of sub-paragraph (1)(a).
(3) In determining—
(a)for the purposes of sub-paragraph (1)(d), whether any money lent to a candidate or his election agent is so lent otherwise than on commercial terms; or
(b)for the purposes of sub-paragraph (1)(e), whether any property, services or facilities provided for the use or benefit of a candidate is or are so provided otherwise than on such terms,
regard shall be had to the total value in monetary terms of the consideration provided by or on behalf of the candidate in respect of the loan or the provision of the property, services or facilities.
(4) Where (apart from this sub-paragraph) anything would be a donation both by virtue of sub-paragraph (1)(b) and by virtue of any other provision of this paragraph, sub-paragraph (1)(b) (together with paragraph 3) shall apply in relation to it to the exclusion of the other provision of this paragraph.
(5) The reference in sub-paragraph (1)(c) to money spent as mentioned in that provision is a reference to money so spent by a person, other than the candidate, his election agent or any sub-agent, out of his own resources (with no right to reimbursement out of the resources of any such other person); and where, by virtue of sub-paragraph (1)(c), money so spent constitutes a donation to the candidate, the candidate shall be treated as receiving an equivalent amount on the date on which the money is paid to the creditor in respect of the expenses in question.
(6) In this paragraph—
(a)any reference to anything being given or transferred to a candidate or his election agent includes a reference to its being given or transferred either directly or indirectly through any third person; and
(b)“gift” includes a bequest or any other form of testamentary disposition.