(1) The treasurer of a political party shall prepare an annual statement of accounts, in respect of each financial year, of that political party, which statement must include: (a) a statement of income and expenditure; (b) the statement of the financial position as at the end of the financial year; (c) the statement of cash flows; and (d) all supplementary notes and schedules related to paragraphs (a), (b) and (c): Provided that for the purposes of this sub-article "financial year" means such a consecutive period of twelve months starting from the date chosen by the political party for the start of its financial year. (2) The statement of accounts under this article shall also comply with such requirements as to its form and contents as shall be prescribed by regulations made by the Minister, as advised by the Commission. (3) Any member of the political party, candidate, central or local party official shall provide the relevant information in accordance with the relevant provisions in this Act to the political FINANCING OF POLITICAL PARTIES [ CAP. 544. party’s treasurer, within a reasonable time, and in default he shall b e g u i l t y o f a n a d m i n i s t r a t i v e o ff e n c e p u n i s h a b l e b y t h e Commission with an administrative fine in an amount of between one hundred euro (€100) and two thousand euro (€2,000): Provided that if any member of a political party, candidate, central or local party official provides any false information, he shall be liable to the punishments provided for false declarations, in accordance with article 188(2) of the Criminal Code.
§ Cap. 544, art. 24(untitled)
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