Formation of a campaign fund

1. In case of elections of the National Assembly, councils of elders of communities in which elections are held through the proportional electoral system, the political parties (alliances of political parties) running in elections, as well as candidates for head of community and for member of council of elders in cases prescribed by part 1 of Article 115 of this Code elected through the majoritarian electoral system shall be obliged to set up a campaign fund within 7 days after the adoption of the decision on registering the candidate, the electoral list of the political party (the alliance of political parties) running in elections. In case of not setting up a campaign fund — within 3 working days after being subjected to administrative liability for not setting up a campaign fund — the competent electoral commission shall apply to court for revoking the registration of the candidate, the electoral list of political party running in elections. Political parties included in an alliance of political parties and candidates nominated through the electoral list of a political party running in elections shall not be entitled to form a separate campaign fund. Means of the campaign fund of political parties (alliances of political parties) running in elections of the National Assembly and the Council of Elders of Yerevan shall be collected in the Central Bank of the Republic of Armenia, whereas means of the campaign fund of candidates, political parties running in other elections shall be collected in any commercial bank having a branch in Yerevan and all marzes of the Republic. The Central Bank of the Republic of Armenia shall provide the Central Electoral Commission with the list of such banks. For the purpose of forming a campaign fund, banks shall open temporary special accounts based on the applications of candidates, political parties (alliances of political parties) running in elections. Revenues shall not be calculated and paid from those accounts.

2. The campaign fund of a candidate shall be formed from:

(1) his or her personal funds;

(2) funds provided by the political party that has nominated him or her;

(3) voluntary contributions by persons having the right to elect.

3. The campaign fund of a political party (alliance of political parties) running in elections shall be formed from:

(1) funds of that political party (member political parties of the alliance);

(2) personal funds of a candidate included in the electoral list of the political party (alliance of political parties) running in elections;

(3) voluntary contributions by persons having the right to elect.

4. Amounts paid to accounts of campaign funds by natural and legal persons not referred to in parts 2 and 3 of this Article shall be transferred to the State Budget. Anonymous contributions made to the account of campaign funds shall also be transferred to the State Budget.

5. The procedure for record keeping of contributions made to campaign funds, and expenditures made from such funds shall be prescribed by the Central Electoral Commission.

6. The maximum amounts of contributions made to campaign funds shall be prescribed by this Code. Campaign fund contribution parts, which are in excess of the maximum amount of contributions prescribed by this Code, shall be transferred to the State Budget.

7. Banks where temporary special accounts are opened shall — once every 3 working days after the expiry of the time limit prescribed by this Code for the registration of candidates, electoral lists of political parties running in elections — submit to the Oversight and Audit Service of the Central Electoral Commission a statement of information on financial inflow and outflow of campaign funds of candidates, political parties (alliances of political parties) running in elections. The Oversight and Audit Service shall summarise such data, draw up a brief statement of information and post it on the website of the Central Electoral Commission.

8. Attachment may not be imposed on means of the campaign fund, such means may not be subject to levy in execution due to personal obligations not related to the election campaigning of a candidate, political party (alliance of political parties) running in elections.

(Article 26 amended, supplemented by HO-333-N of 18 June 2020)

(Law HO-333-N of 18 June 2020 contains a transitional provision relating to the Article)