Home > 2.7 Election funding > UKRAINE - Law on Elections of People's Deputies
 
 
 
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Article 51
 

A Party’s (Bloc’s) Election Fund

 

1.    A party’s (bloc’s) election fund shall have one accumulative account, money for funding the election campaign of a party (bloc) shall be transferred to, and current accounts, through which finding of expenditures for election agitation of a party (bloc) shall be made. Funds shall be transferred to current accounts of a party’s (bloc’s) election fund through an accumulative account of a party’s (bloc’s) election fund exclusively.

 

2.    A party (bloc) shall open an accumulative account of an election fund with a banking institution in the city of Kyiv chosen at its own discretion. A party (bloc) may open one accumulative account of an election fund in the national currency only.

 

3.    A party (bloc) may open current accounts of an election fund in banking institutions of Ukraine on the “one account per one election district” basis. One current account of an election fund may be used for several territorial election districts.

 

4.    A party (bloc) shall not fund its election campaign in a foreign election district.

 

5.    A party (bloc) should open an accumulative account of an election fund no later than 65 days before Election Day. A basis for opening an accumulative account of an election fund shall be a copy of the Central Election Commission’s decision on registration of candidates for deputies, put in the election list of a party (bloc). Grounds for opening a current account of an election fund shall be a certificate on accumulative account opened, issued by a banking institution.

 

6.    Procedures of opening and closing accounts of election funds of parties (blocs) shall be established by the National Bank of Ukraine upon coordination with the Central Election Commission no later than 100 days before Election Day.

 

7.    Services of banking institutions, related to opening and closing of election fund’s accounts and their operation, shall be rendered free of charge. A banking institution shall calculate and pay no interest for utilization of funds, being deposited on accounts of a party’s (bloc’s) election fund.

 

8.    A banking institution shall inform the Central Election Commission in written on an account’s opening and its banking details no later than on the next working day after an accumulative or current accounts have been opened.

 

9.    Information on opening of an accumulative account of a party’s (bloc’s) election fund and its details shall be published by the Central Election Commission in the Holos Ukrainy and Uryadovyi Kuryer newspapers once, no later than on the fifth day after being informed by a banking institution on opening of accumulative account of a party’s (bloc’s) election fund at the expense of funds, allocated for preparation to and conduct of the elections through the State Budget of Ukraine. Subsequent announcements on banking details of accumulative account of a party’s (bloc’s) election fund shall be published in printed media at the expense of a party’s (bloc’s) election fund.

 

10. Funds shall be transferred from current accounts of a party’s (bloc) election fund in a cashless form.

 

11. Allotment of money from current accounts of a party’s (bloc’s) election fund shall be terminated at 3.00 p.m. of the last day before Election Day.

 

12. No funds may be arrested on accounts of a party’s (bloc’s) election fund.

 

13. Accounts may be closed and transactions on accounts of a party’s (bloc’s) election fund may be terminated prior to expiration of term stipulated by paragraph 10 of this Law if a party (bloc) losses the status of the election process’ subject only.