House of Commons

The Register of Members' Financial Interests: Part 1
As at 2nd February 2015

REGISTER OF MEMBERS' FINANCIAL INTERESTS

INTRODUCTION TO THE JANUARY 2015 EDITION

This edition of the Register of Members' Financial Interests is the fifth to be published for the Parliament elected in May 2010. It is up to date as at 26 January 2015.

The Register was established following a Resolution of the House of 22 May 1974. The maintenance of the Register is one of my principal duties as Parliamentary Commissioner for Standards under House of Commons Standing Order No. 150.

The Guide to the Rules relating to the conduct of Members sets out the interests which Members must register. The Guide was first agreed in July 1996 [1] and revised in May 2002 [2] , July 2005 [3] , March 2007 [4] , and June 2009. [5] It is published under the same cover as the Code of Conduct for Members of Parliament.

The main purpose of the Register is to provide information about any financial interest or any other material benefit which a Member receives which might reasonably be thought by others to influence his or her actions, speeches or votes in Parliament, or actions taken in his or her capacity as a Member of Parliament. [6] It is the responsibility of each Member to notify changes in their registrable interests within four weeks of the change occurring.

Members must register interests in twelve categories, which are as set out below. Apart from the specific rules, there is a general obligation upon Members to keep in mind the overall definition of the Register’s purpose when registering their interests.

Category

Descriptor

Financial threshold for registration

1

Directorships

Over 0.1% of annual parliamentary salary (currently £66) for individual payments

Over 1% of annual parliamentary salary (currently £660) for total payments of whatever size from the same source in the course of a calendar year [1]7

2

Remunerated office, profession, employment etc

As for Category 1

3

Clients

As for Category 1

4

Sponsorships

Over £1,500, either as individual payments, or as total of multiple donations of more than £500 from the same source in the course of a calendar year

5

Gifts, benefits and hospitality (UK)

Over 1% of annual parliamentary salary (currently £660) for benefits of whatever size from the same source in the course of a calendar year

6

Overseas visits

Over 1% of annual parliamentary salary (currently £660) if not wholly borne by Member or public funds.

Threshold applies to benefits of whatever size from the same source in the course of a calendar year

7

Overseas benefits and gifts

As for Category 5

NB: donations of more than £500 from an overseas source in connection with political activities, other than under Category 6, are impermissible.

8

Land and property [not used for personal residential purposes]

Value of property: over annual parliamentary salary (currently £66,000)

Income derived from property: over 10% of annual parliamentary salary (currently £6,600)

9

Shareholdings

Greater than 15% of issued share capital (on preceding 5 April), or

If 15% or less of issued share capital (on preceding 5 April), greater in value than annual parliamentary salary (currently £66,000)

10

Controlled transactions within the meaning of Schedule 7A PPERA

(loans, credit facilities and securities)

Over £1,500 for total of donations and loans of more than £500 from the same source in the course of a calendar year

11

Miscellaneous

No threshold

12

Family members employed and remunerated through parliamentary expenses

Over 1% of annual parliamentary salary (currently £660) in calendar year [1]

The Register is published in printed form under the authority of the Committee on Standards soon after the beginning of a new Parliament, and approximately every year thereafter. It is also updated fortnightly online when the House is sitting, and monthly at other times. The Electoral commission draws from the Register the information which they publish about political donations to Members.

The Register is currently available on the Internet via the following link: http://www.publications.parliament.u k /pa/cm/cmregmem.htm . Copies of the Code of Conduct and Guide to the Rules relating to the conduct of Members may be found at http://www.publications.parliament.uk/pa/cm201012/cmcode/1885/188501.htm. They can also be obtained from The Stationery Office as House of Commons paper No 1885 of session 2010-12.

Free internet access to the Register is available in the Search Room, Parliamentary Archives, London SW1A 0PW, by appointment only (tel. 020 7219 3074), between 10 am and 4 pm, Monday to Friday (closed on Bank Holidays and the last two weeks in November).

As Parliamentary Commissioner for Standards, I may inquire into allegations that a Member has not registered interests in accordance with the rules of the House. If I resolve the matter through the rectification procedure available under Standing Order No 150, the relevant entries will be printed in bold italics, with an appropriate explanatory note. Entries may also be distinguished in this way at the request of the Committee on Standards, if the Committee considers the matter following an inquiry and memorandum by the Commissioner.

My office is always happy to answer questions about the Register. These should be sent to the Registrar of Members’ Financial Interests at the House of Commons, London SW1A OAA or via [email protected].

Kathryn Hudson
Parliamentary Commissioner for Standards

26 January 2015

1 HC (1995-96), HC 688 

2 HC (2001-02), HC 841 

3 HC (2005-06), HC 351 

4 HC Deb (2007-08), 27 Mar cols 382-394 

5 HC (2008-09), HC 735; updated May 2010. This Guide is published with the 2012 Code as HC 1885 of Session 2010-12.  

6 Cf Select Committee on Members’ Interests, First Report, Session 1991–92, “Registration and Declaration of Financial Interests”, HC 236, paragraph 27. 

1  

1 The job titles given are those used in payband guidance issued by the Independent Parliamentary Standards Authority: see http://www.parliamentarystandards.or g .uk/IPSAM P s/Pages/HR,-Payroll,-Interns.aspx .  

Prepared 29th January 2015