Main Principles of Establishing and Functioning of an Electoral Fund
The electoral fund of a candidate for President of Ukraine shall have one accumulation account to which the funds for financing the election campaign of a candidate for President of Ukraine 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 candidate’s electoral fund exclusively from the accumulation account of his or her electoral fund.
A candidate for President of Ukraine shall open an electoral fund account no later than on the tenth day following the day of his or her registration by the Central Election Commission.
A candidate for President of Ukraine shall open one accumulation account for his or her electoral fund in the Ukrainian bank in the city of Kyiv and no more than one current account within the territorial election district. One current bank account of an electoral fund of a candidate for President of Ukraine may service several territorial election districts.
Accounts of an electoral fund of a candidate for President of Ukraine shall be opened in the banks in the national currency.
An accumulation account of the electoral fund of a candidate shall be opened on the basis of a copy of the decision of the Central Election Commission on registration of a candidate for President of Ukraine. A current account of the electoral fund of a candidate shall be opened on the basis of a certificate from the bank certifying the opening of the accumulation account of the electoral fund.
The procedure for opening and closing the accounts of electoral funds of candidates for the President of Ukraine 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.
The funds in the current accounts of the electoral fund shall be spent only in a cashless form.
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.
No later than on the next business day following the day of opening of the account of the electoral fund of a candidate for President of Ukraine, the banking institution shall notify the Central Election Commission and the National Agency for Corruption Prevention in writing of the opening of the respective account and its details.
The information on the opening of the accumulation account of the respective electoral fund and its respective details shall be published on the official website of the Central Election Commission. Further information on an electoral fund’s accumulation bank account details shall be published in mass media at the expense of the resources of the respective electoral fund.
The spending of the resources from current accounts of the electoral fund shall be terminated at 18:00 on the last Friday prior to the day of voting.
Should a repeat voting be called, the spending of the funds from the electoral fund of the candidate included on the ballot for the repeat voting shall be renewed from the day of the adoption of the decision on the candidate inclusion on the ballot for the repeat voting.
The accounts of the electoral fund shall be closed by the banking institutions on the fifteenth day of the day of the official promulgation of the results of the election, or on the day of publication of the decision on calling the repeat voting with regard to candidates that have not been included on the ballot for repeat voting.
Seizure of the funds in the accounts of an electoral fund prior to the day of voting or the day of repeat voting shall not be allowed.
Closing of the accounts or termination of transactions in the accounts of the electoral fund before the deadline specified in Part ten of this Article shall not be allowed.
