Electoral Funds of Parties and MP Candidates in Single-Mandate Election Districts
1. A party whose MP candidates were registered in the nationwide election district, as well as an MP candidate in a single-mandate election district, shall open an electoral fund account no later than on the tenth day following the day of registration by the Central Election Commission. The size of an electoral fund of the party whose MP candidates were registered in the nationwide election district may not exceed ninety thousand minimum salaries.
CDL-REF(2016)040
{A new paragraph was added to Part 1 Article 48 pursuant to the Law № 709-VII dd. 21.11.2013}
The size of an electoral fund of an MP candidate in a single-mandate election district may not exceed four thousand minimum salaries. {A new paragraph was added to Part 1 Article 48 pursuant to the Law № 709-VII dd. 21.11.2013} The electoral fund of a party whose MP candidates were registered in a nationwide election district (hereinafter, the electoral fund of a party) shall have one accumulation account to which the funds for financing the election campaign of such electoral subject shall be transferred, as well as current accounts from which the expenditures relating to election campaigning shall be covered. Resources shall be transferred to the current accounts of a party’s electoral fund exclusively from the accumulation account of its electoral fund. An accumulation account of a party’s electoral fund shall be opened on the basis of a copy of the decision of the Central Election Commission on registration of the MP candidates included in the electoral list of a party. A current account of a party’s electoral fund shall be opened on the basis of a banking institution’s certificate on the opening of a party’s accumulation account. The electoral fund of an MP candidate in a single-mandate election district shall have one current account to which the funds for financing the election campaign shall be transferred. An accumulation account of the electoral fund shall be opened on the basis of a copy of the decision of the Central Election Commission on registration of the MP candidate in the singlemandate election district.
2. A party shall open the accumulation account of its electoral fund at a banking institution of Ukraine located in the city of Kyiv, which shall be chosen at its sole discretion. An MP candidate in a single-mandate election district shall open the current account of his or her electoral fund at a banking institution of Ukraine, which shall be chosen at his or her sole discretion, at the location of the district election commission. A party or an MP candidate in a single-mandate election district shall open the respective accounts of its/his/her electoral fund only in the national currency.
3. A party may open no more than one current account of its electoral fund in each singlemandate election district. One current account of a party’s electoral fund may be used for several single-mandate election districts.
4. The procedure for opening and closing the accounts of electoral funds shall be approved no later than eighty-three days prior to the day of voting by the National Bank of Ukraine in coordination with the Central Election Commission.
5. The banking institutions’ services relating to the opening and closing of the accounts of the electoral fund, as well as to the functioning thereof, shall be delivered free of charge. A banking institution shall neither accrue nor pay any interests on the funds maintained in the accounts of the electoral fund of a party.
6. No later than on the next business day following the day of opening of the respective accumulation or current account of the electoral fund of a party, the banking institution shall notify the Central Election Commission in writing of the opening of the respective account and its details. No later than on the next business day following the day of opening of the respective current account of the electoral fund of an MP candidate in a single-mandate election district, the CDL-REF(2016)040 banking institution shall notify the Central Election Commission and the respective district election commission in writing of the opening of the respective account and its details. {Part 6 Article 48 in the wording of the Law № 709-VII dd. 21.11.2013}
7. The information on the opening of the accumulation account of a party’s electoral fund and its respective details shall be published once by the Central Election Commission in the newspapers Holos Ukrainy and Uriadovyi Courier, and the information on the opening of the current account of the electoral fund of an MP candidate in a single-mandate election district and its respective details shall be published once by the Central Election Commission in regional or local printed mass media no later than on the fifth day following the day of the receipt of notification from the banking institution on the opening of the respective account of the electoral fund, at the expense of the funds allocated for the preparation and conduct of the elections from the State Budget of Ukraine. Subsequent information on the details of the respective account of the electoral fund of a party or MP candidate in a single-mandate election district shall be published in printed mass media at the expense of the respective electoral fund. {Part 7 Article 48 as amended pursuant to the Law № 709-VII dd. 21.11.2013}
8. The funds in the current accounts of the electoral fund shall be spent in a cashless form.
9. The spending of the funds from current accounts of the electoral fund after 18:00 on the last day prior to the day of voting shall take place only if the invoices for goods, works and services were issued before the specified time. The spending of the funds from current accounts of the electoral fund shall be terminated at 18:00 on Wednesday after the day of voting. {A new paragraph was added to Part 9 Article 48 pursuant to the Law № 709-VII dd. 21.11.2013} {Part 9 Article 48 as amended pursuant to the Law № 709-VII dd. 21.11.2013}
10. Should a repeat election be called in a single-mandate election district, the spending of the funds from the electoral funds of MP candidates included on the ballot for the repeat election shall be renewed from the day of the adoption of the decision calling the repeat election.
11. Seizure of the funds in the accounts of an electoral fund shall not be allowed.
12. Closing of the accounts or termination of transactions in the accounts of the electoral fund before the deadline specified in Paragraph 2 Part 9 of this Article shall not be allowed. {Part 12 Article 48 as amended pursuant to the Law № 709-VII dd. 21.11.2013}
