Home > 2.6 Campaign finance > ARMENIA - Law on Referendum
 
 
 
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Article 21
 

Fund for the Referendum Campaign

 

1. Those who are eligible for campaigning can create a referendum fund for the purpose of funding the referendum campaign.

 

2. The means of the fund are accumulated in the Central bank of Armenia in a special account.

 

3. The fund is formed from the personal means, voluntary payments of private persons and legal entities.

 

4. The following have no right to contribution to the fund:

a) state and local self - governing bodies

b) fiscal institutions (organizations)

c) foreign private persons and legal entities

d) stateless persons

e) charitable and religious organizations, international organizations and international non-governmental movements.

f) those organizations which have foreign means in the amount of more than 30 per cent in their share capital. Their contribution to the fund will be passed the state budget.

 

5. The general amount of contributions must not exceed 10000 – times of the value of minimal salaries of the adopted balance basis of Republic of Armenia.

 

6. It is forbidden to spend means not included in the fund during the campaign.

 

7. The Central Bank in three days periodicity presents reference to the Central Commission on the financial activities of the funds, which are terminated one day prior to the voting.