(5) In this paragraph— “current parliamentary session” means the parliamentary session which begins immediately after, or in which, the member is returned; “a related undertaking” is a parent or subsidiary undertaking of an undertaking of which the member is a director and receives remuneration as a director as mentioned in sub-paragraph (1)(d); and “specified limit” means 1% of a member’s salary (rounded down to the nearest £10) at the beginning of the current parliamentary session.”Related undertaking, Election Expenses and Sponsorship2 Paragraphs 3 (Related Undertaking), 4 (Election expenses) and 5 (Sponsorship) of the Schedule are deleted.Gifts3 (1) Paragraph 6 (Gifts) of the Schedule is amended as follows. (2) In sub-paragraph (1), delete sub-paragraph (a) and the words “(b) that gift meets” and insert— “(a) in the case where the gift was received from a person on a single occasion, the value of that gift, at the date on which it was received, exceeds the specified limit; or (b) in the case where gifts were received from that person on more than one occasion during the current parliamentary session, the aggregate value of those gifts, at the dates on which they were received, exceeds the specified limit and, in either case, (c) that gift or those gifts meet” (3) In sub-paragraph (2), (a) after “to” insert “(a)”; (b) delete “(a)” (where it occurs for the second time) and insert “(i)”; (c) delete “(b)” and insert “(ii)”; and (d) after “the case may...