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Article 53
 

Formation of Party’s (Bloc’s) Election Fund and Use of its Resources

 

1.    A party’s (bloc’s) election fund shall be formed at expense of own funds of a party (parties constituting an election bloc), and voluntary contributions of individuals (further – voluntary contributions).

 

2.    Voluntary contribution of an individual to a party’s (bloc’s) election fund shall not exceed four minimum wages. Own founds of a party (bloc), which are transferred on an accumulative account, shall not be limited by sums or numbers of transfers.

 

3.    Following individuals cannot make voluntary contributions to a party’s (bloc’s) election fund:

 

1)    foreigners and stateless individuals;

 

2)    anonymous contributors (if a payment document bears no details as stipulated by paragraph 4 of this Law).

 

4.    Voluntary contribution to a party’s (bloc’s) election fund shall be accepted by a banking institution or a post office if a citizen submits one of documents, as referred to in sub-paragraphs 1 or 2 of paragraph 3 of Article 2 of this Law. This payment document should contain the first, second name, patronymic, date of birth and the place of residence of the person as well as his/her lodging address.

 

5.    A banking institution or a post office should transfer a voluntary optional contribution to an accumulative account of a party’s (bloc’s) election fund no later than on the following working day after receipt of the respective payment document. General term of cashless transfer of contributions to an accumulative account of a party’s (bloc’s) election fund should not exceed two banking days.

 

6.    An administrator of an accumulative account of a party’s (bloc’s) election fund shall have the right to reject a contribution of an individual by submission of a respective application and a payment document to a banking institution, where an accumulative account of a party’s (bloc’s) election fund is maintained. Such contribution shall be paid back to an individual at the expense of an voluntary contribution, and if it is impossible to do so, it shall be transferred into the State Budget of Ukraine.

 

7.    If an optional contribution made by an individual exceeds the amount stipulated by paragraph 2 of this Law, exceeding sum shall be paid back to the individual by a banking institution, where an accumulative account of a party’s (bloc’s) election fund is maintained based on a respective application and a payment document, submitted by an administrator of an accumulative account of a party’s (bloc’s) election fund, at the expense of such funds, and if it is impossible to do so, it shall be transferred into the State Budget of Ukraine.

 

8.    An administrator of an accumulative account of a party’s (bloc’s) election fund should reject contribution of an individual, who cannot make such contributions in accordance with this law, if an administrator is aware of it. Based on administrator’s application on rejection of a contribution, a banking institution, where an accumulative account of a party’s (bloc’s) election fund is maintained, shall transfer such contribution to the State Budget of Ukraine. If an administrator of an accumulative account of a party’s (bloc’s) election fund is aware of fact, that an contributing individual had no right to do so, he/she has to reject such contribution by filing an application to a banking institution, where an accumulative account of a party’s (bloc’s) election fund is maintained, for transference of the respective sum to the State Budget of Ukraine within three days following the day, when he/she became aware of it.

 

9.    A banking institution, where an accumulative account of a party’s (bloc’s) election fund is maintained, shall transfer funds from an accumulative account to current accounts of the same a party’s (bloc’s) election fund based on the respective application of an administrator of an accumulative account of a party’s (bloc’s) election fund.

 

10. The Central Election Commission and a banking institution, where an accumulative account of a party’s (bloc’s) election fund is maintained, shall exercise control over receipts, accounting and utilization of election funds of parties (blocs) in accordance with the procedure established by the Central Election Commission together with the National Bank of Ukraine and an authorized central executive authority in the sphere of communications no later than 90 days before Election Day.

 

11. A banking institution, where an accumulative account of a party’s (bloc’s) election fund is maintained, shall transfer funds, not used by a party (bloc), to an accumulative account of a respective a party’s (bloc’s) election fund no later than on the fifth day after Election Day.

 

12. Within five days after receipt of a respective decision of a party (bloc) by a banking institution, funds of an election fund, not used by a party (bloc), shall be transferred from an accumulative account of a party’s (bloc’s) election fund to a current banking account of a party (parties, constituting a bloc) upon decision of a management of a party (bloc) passed within tend days after promulgation of voting results. If a party (bloc) fails to pass such decision within the said term, a banking institution shall transfer unutilized funds of a party’s (bloc’s) election fund to the State Budget of Ukraine on the 15th day after promulgation of the election results by the Central Election Commission.

 

13. Contributions which are transferred to the accumulative account of a party’s (bloc’s) election fund later than one day prior to Election Day shall be returned by the banking institution to the relevant person at the expense of such contributions, and if it is impossible to do so, it shall be transferred into the State Budget of Ukraine.