§ Article 24(untitled)

Funding of organisation and holding of elections

1. The funding of expenditures for organising and holding elections (including

 drawing up lists of electors, organising professional courses for holding

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 elections), as well as of expenditures necessary for the activities of electoral

 commissions shall be made at the expense of the funds of the State Budget. Such

 expenditures shall be provided for by the State Budget under a separate item

 and shall be incorporated under one line in the Public Procurement Plan for

 state needs.

 When making procurement at the expense of financial means allocated for

 organising and holding elections, the procurement procedure shall be prescribed

 by the Central Electoral Commission.

2. In case of holding early, new regular, new elections, repeat voting, as well as

 second round of election of the National Assembly, elections shall be funded

 from the reserve fund of the State Budget and, if it is impossible, the Central

 Electoral Commission shall use the funds available on the special account of

 electoral deposits of the Central Electoral Commission. Where the funds available

 on the special account of electoral deposits of the Central Electoral Commission

 are not sufficient, the Central Electoral Commission may, on a competitive basis,

 obtain a loan from private banks. In this case, it is considered by virtue of law

 that the Government of the Republic of Armenia has provided the banks — in

 the amount of that sum, including the sum for service of loan — with a budget

 guarantee for a term of 3 years without any security. The Government shall —

 within a 3-year period — reimburse the funds used from the special account of

 electoral deposits, and the loan.

3. Where budgetary funds are not provided in a timely manner, or no means are

 available in the reserve of the Central Bank of the Republic of Armenia, or the

 provided means are insufficient to fund the elections, the Central Electoral

 Commission shall be entitled to obtain a loan from private banks on a competitive

 basis or to use the funds available on the special account of electoral deposits of the

 Central Electoral Commission. The Government shall compensate the loan or the

 funds used from the special account of electoral deposits within a 3-month period.

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4. Financial means intended for organising and holding elections (including those

 designated for the maintenance of commissions) shall be allocated to the

 “Staff of the Central Electoral Commission” state administration institution.

 The “Staff of the Central Electoral Commission” state administration institution

 shall, as prescribed by this Code and the legislation of the Republic of Armenia,

 dispose of the financial means and shall be responsible for using such means in

 accordance with the estimates prescribed by the Central Electoral Commission.