Bank account

(1) A candidate’s official agent shall open, for the sole purpose of the candidate’s electoral campaign, a separate bank account in a Canadian financial institution as defined in section 2 of the Bank Act, or in an authorized foreign bank as defined in that section that is not subject to the restrictions and requirements referred to in subsection 524(2) of that Act.

Account holder name

(2) The account shall name the account holder as follows: “(name of official agent), official agent”.

Deposits into account

(3) All of a candidate’s financial transactions in relation to the candidate’s electoral campaign that involve the receipt of money are to be deposited to the account unless the transaction involves the receipt of the candidate’s own funds and those funds are used to pay a litigation expense or a personal expense.

Payments from account

(3.1) All of a candidate’s financial transactions in relation to the candidate’s electoral campaign that involve the payment of money are to be paid from the account unless the transaction involves the payment out of the candidate’s own funds of a litigation expense or a personal expense.

Closure of bank account

(4) After the election or the withdrawal or death of a candidate, the candidate’s official agent shall close the account once all unpaid claims and surplus electoral funds have been dealt with in accordance with this Act.

Final statement of bank account

(5) The official agent shall, on closing the account, provide the Chief Electoral Officer with the final statement of the account.

2014, c. 12, s. 86; 2018, c. 31, s. 289.