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Article 24
 

Funding of organisation and holding of elections
1. The funding of expenditures for organising and holding elections (including drawing up lists of voters, organising professional courses for holding elections), as well as of expenditures necessary for the activities of election commissions shall be made at the expense of the funds of the State Budget. Such expenditures shall be provided for by the State Budget under a separate item and shall be incorporated under one line in the Public Procurement Plan for state needs.
When making procurement at the expense of financial means allocated for organising and holding elections, the procurement procedure shall be prescribed by the CEC.


2. In case of holding early, new regular, new elections, repeat voting, as well as second round of election of the National Assembly, elections shall be funded from the reserve fund of the State Budget and, if it is impossible, the CEC shall use the funds available on the special account of electoral deposits of the CEC. Where the funds available on the special account of electoral deposits of the CEC are not sufficient, the CEC may, on a competitive basis, obtain a loan from private banks. In this case, it is considered by virtue of law that the Government of the Republic of Armenia has provided the banks — in the amount of that sum, including the sum for service of loan — with a budget guarantee for a term of 3 years without any security. The Government shall — within a 3 year period — reimburse the funds used from the special account of electoral deposits, and the loan.


3. Where budgetary funds are not provided in a timely manner, or no means are available in the reserve of the Central Bank of the Republic of Armenia, or the provided means are insufficient to fund the elections, the CEC shall be entitled to obtain a loan from private banks on a competitive basis or to use the funds available on the special account of electoral deposits of the CEC. The Government shall compensate the loan or the funds used from the special account of electoral deposits within a 3-month period.


4. Financial means intended for organising and holding elections (including those designated for the maintenance of commissions) shall be allocated to the “Staff of the CEC” state administration institution. The “Staff of the CEC” state administration institution shall, as prescribed by this Code and the legislation of the Republic of Armenia, dispose of the financial means and shall be responsible for using such means in accordance with the estimates prescribed by the CEC.