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Article 24
 

 Financing of Organization and Conduct of Elections

 

1. Expenses for organization and conduct of elections, including for compilation of voter lists, as well as expenses that are required for the activities of electoral commissions, shall be covered from the state budget. Such expenses shall be reflected in a separate line in the state budget.

2. Financial means allocated for elections shall be provided within five days of setting the date for the elections.

3. In the case of extraordinary elections, such elections shall be financed from the state budget’s reserve fund; if this is impossible, then they shall be financed from the Central Bank’s reserve fund on the condition of future reimbursement from the state budget. If the state budget financing is not provided on time, or there are no funds available in the RA Central Bank’s reserve fund, or the allocated means are insufficient for financing the extraordinary elections or the second round of elections, then the Central Electoral Commission shall have the right to seek a loan from private banks on competitive basis, on the condition that the government will repay the loan within a three-month period.

4. Financial means earmarked for elections, including funds for running electoral commissions, shall be allocated to “The Central Electoral Commission Staff” state administrative institution, in accordance with procedures defined by the Government of the Republic of Armenia. “The Central Electoral Commission Staff” state administrative institution shall manage the financial means in accordance with procedures set out by legislation of the Republic of Armenia and shall be responsible for using the funds in accordance with the estimates approved by the Central Electoral Commission.