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| Version 1 | Version 2 |
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| Watchdog probes Tory donor's firm | Watchdog probes Tory donor's firm |
| (20 minutes later) | |
| The official elections watchdog has launched an inquiry into donations to the Tory Party made by the company of wealthy party backer Lord Ashcroft. | The official elections watchdog has launched an inquiry into donations to the Tory Party made by the company of wealthy party backer Lord Ashcroft. |
| The Electoral Commission confirmed reports it was mounting a formal investigation into the donations made by Bearwood Corporate Services. | The Electoral Commission confirmed reports it was mounting a formal investigation into the donations made by Bearwood Corporate Services. |
| It is looking into a possible "failure to comply" with the Political Parties, Elections and Referendums Act. | It is looking into a possible "failure to comply" with the Political Parties, Elections and Referendums Act. |
| The Tories have insisted the donations were "legal and permissible". | The Tories have insisted the donations were "legal and permissible". |
| The probe concerns "a number of donations," said a spokesman for the Electoral Commission. | The probe concerns "a number of donations," said a spokesman for the Electoral Commission. |
| Lord Ashcroft, the party's deputy chairman, has paid millions of pounds to the party through Bearwood, a UK-registered company. The donations from Bearwood Corporate Services Ltd met [the] tests and were therefore legal and permissible Conservative part spokesman | Lord Ashcroft, the party's deputy chairman, has paid millions of pounds to the party through Bearwood, a UK-registered company. The donations from Bearwood Corporate Services Ltd met [the] tests and were therefore legal and permissible Conservative part spokesman |
| However Labour MPs have long questioned whether the donations complied with strict laws banning overseas' donations. | However Labour MPs have long questioned whether the donations complied with strict laws banning overseas' donations. |
| Lord Ashcroft was partly brought up in Belize and he reportedly still has extensive business interests in the former British colony. | Lord Ashcroft was partly brought up in Belize and he reportedly still has extensive business interests in the former British colony. |
| He has consistently refused to say whether he is resident or pays taxes in the UK. | He has consistently refused to say whether he is resident or pays taxes in the UK. |
| The Conservatives have insisted that they were satisfied that the donations were both "legal and permissible". | The Conservatives have insisted that they were satisfied that the donations were both "legal and permissible". |
| A party spokesman said: "The Conservative Party compliance unit applies two strict tests to all company donations in accordance with Electoral Commission guidance. | A party spokesman said: "The Conservative Party compliance unit applies two strict tests to all company donations in accordance with Electoral Commission guidance. |
| "They are: is the company UK registered and is the company trading? | "They are: is the company UK registered and is the company trading? |
| "The donations from Bearwood Corporate Services Ltd met those tests and were therefore legal and permissible." | "The donations from Bearwood Corporate Services Ltd met those tests and were therefore legal and permissible." |
| WHAT THE LAW SAYS Individual donors must be on the UK electoral registerCompany donors must be registered and do business in the UKImpermissible donations can be forfeited by the party concerned | |
| But John Mann, one of the Labour MPs pressing for an inquiry into the Bearwood donations, welcomed the confirmation that there would now be a full investigation. | But John Mann, one of the Labour MPs pressing for an inquiry into the Bearwood donations, welcomed the confirmation that there would now be a full investigation. |
| He told the Sunday Mirror newspaper: "Tax exiles should not be allowed to give money to influence the results in British elections. | He told the Sunday Mirror newspaper: "Tax exiles should not be allowed to give money to influence the results in British elections. |
| "I'm very pleased this investigation has been launched. It's a significant first step to getting to the bottom of what is going on." | "I'm very pleased this investigation has been launched. It's a significant first step to getting to the bottom of what is going on." |
| The Electoral Commission began initial inquiries into the donations last year, but the decision to stage a formal investigation was only made on 30 January. | The Electoral Commission began initial inquiries into the donations last year, but the decision to stage a formal investigation was only made on 30 January. |
| Lord Ashcroft has become a powerful figure at Conservative HQ where he is credited with devising the party's marginal seat strategy, pouring resources into constituencies where Labour MPs are defending small majority. | Lord Ashcroft has become a powerful figure at Conservative HQ where he is credited with devising the party's marginal seat strategy, pouring resources into constituencies where Labour MPs are defending small majority. |