London, Aug 2 - A new law to curb British party political funding by wealthy individuals who are registered as 'non-domiciled' for tax purposes will not be enforced immediately, Indian origin industrialist Swraj Paul said Sunday.

'The effective date of enforcement has to be decided,' Paul, chairman of the Caparo Group of industries and a major donor for Britain's ruling Labour Party, told IANS.

Paul's confirmation on the effective date followed media reports Sunday that said the law - passed July 20 - will not be enforced until after the next general election, due by June 3, 2010.

Immediate enforcement of the law would place a 7,500 pound cap on the amount of money that a Briton with non-domicile tax status - a so-called non-dom - can put into political parties.

Non-dom status allows Britons to save taxes on their earnings abroad.

All three of Britain's main national parties - Labour, Conservatives and Liberal Democrats - have benefited from funding by wealthy non-doms, but Labour in particular counts on the support of a string of Indian origin non-doms.

Apart from Paul, Labour donors include Lakshmi Niwas Mittal, Britain's wealthiest man and main owner of steelmaker ArcelorMittal, who has reportedly donated a million pounds, and Ghulam Noon, known as the Curry King for his Indian food empire.

Paul said he did not speak on the Bill in the House of Lords, of which he is deputy speaker, on a matter of principal as he has a vested interest in the issue.