In order to run his or her pre-election campaign, a presidential candidate or a citizen nominated as a presidential candidate shall have the right to set up a pre-election fund at the Central Bank of the Republic of Armenia in his/her name or in the name of his/her authorized representative. The fund shall be made up of voluntary contributions described in Article 25 of this Code.
The citizen nominated as a presidential candidate may use the resources in his/her pre-election fund to pay the electoral deposit.
1. The amount of personal contributions of the presidential candidate to his or her preelection fund shall not exceed 10,000 times the minimum wage.
2. The amount of contributions by the party who nominated the candidate to that candidate’s pre-election fund may not exceed 30,000 times the minimum wage.
3. The candidates’ expenses made from their pre-election funds may not exceed 70,000 times the minimum wage.
4. Any physical person may voluntarily contribute to a candidate’s pre-election fund in the amount of up to 200 times the minimum wage; the voluntary contribution of a legal entity may not exceed 500 times the minimum wage.
5. The electoral deposit shall be returned to the candidate, if he or she is elected as President of the Republic of Armenia or if the number of ballots cast for her or her is 5 or more percent of the valid ballots; if the election deposit was paid from the pre-election fund, then it shall be returned to the pre-election fund. Within three months after the official announcement of election results, the money remaining in the pre-election fund may be used for charity, at the candidate’s discretion. After a three-month period, the money remaining in the candidate’s pre-election fund shall be transferred to the state budget.
6. If the number of ballots cast for the candidate is less than 5 percent of the number of valid ballots, the money remaining in the presidential candidate’s pre-election fund after the elections and the electoral deposit shall be transferred to the state budget.
7. If the elections are declared failed, the money left in the pre-election fund after the elections shall be frozen until the candidate registers for new elections. The candidate who has registered to run in new elections may use the money left in the pre-election fund set up for the previous elections.
8. Presidential candidates shall have the right to use only the means in their pre-election fund to finance their pre-election campaign.
9. If a presidential candidate has used other financial means for his or her pre-election campaign, other than those in his/her pre-election fund, the Central Electoral Commission shall have the right to ask a court to annul the candidate’s registration. If a court rules to annul a candidate’s registration, the candidate’s name shall be removed from the ballots in accordance with procedures established by the Central Electoral Commission.
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