(1) Without prejudice to article 8, a political party shall not be registered in the register for political parties unless it has, in its statute, provision for the election of:

(a) the political party's leader or leaders by whatever name or designation the leader or leaders are referred to; and

(b) a political party's treasurer by whatever name the person performing the functions of treasurer is referred to.

(2) The person or persons registered as the political party's leaders shall be the overall leader of the party.

(3) It shall be the duty of the political party's treasurer to arrange the political party's finances in accordance with this Act including to:

(a) prepare the political party's annual accounts for audit and present them for the political party's approval at the annual general meeting of an appropriate party organ;

(b) ensure the political party's compliance with the relevant provisions of the accounting requirements and control of donations, and any other relevant financial transactions; and

(c) perform any other function in relation to the finances and financial reporting of the political party.