§ Article 25(untitled)

Electoral deposit

1. Candidates, political parties running in elections shall pay an electoral deposit to

 the account of the Central Electoral Commission.

2. The amount of the electoral deposit shall be returned within a 7-day period in

 the following cases:

 (1) being elected or participating in the distribution of mandates;

 (2) receiving ballot papers with affirmative vote, which makes 5 or more per

 cent of the number of ballot papers with affirmative vote cast for all candidates,

 whereas in case of the political party — receiving ballot papers with affirmative

 vote, which makes 4 or more per cent of the number of ballot papers with

 affirmative vote cast for all political parties running in elections;

 (3) recusal prior to the registration of candidates, electoral lists of political

 parties running in elections;

 (4) declaring the election results invalid and calling a new regular or a new

 election or

 (5) death of candidate — to his or her heirs.

3. In all other cases the amount of the electoral deposit shall not be returned.

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 Article 26. Formation of a campaign fund

1. In case of elections of the National Assembly, Councils of Elders of Yerevan,

 Gyumri and Vanadzor, the political parties (alliances of political parties) running

 in elections, candidates for head of community having 10 000 and more electors,

 as well as candidates for head of community and for member of council of elders

 in cases prescribed by part 1 of Article 115 of this Code shall be obliged to set up

 a campaign fund within 7 days after the adoption of the decision on registering

 the candidate, the electoral list of the political party (the alliance of political

 parties) running in elections. In case of not setting up a campaign fund — within

 3 working days after being subjected to administrative liability for not setting up

 a campaign fund — the competent electoral commission shall apply to court for

 revoking the registration of the candidate, the electoral list of political party

 running in elections. Political parties included in an alliance of political parties

 and candidates nominated through the electoral list of a political party running in

 elections shall not be entitled to form a separate campaign fund. Means of the

 campaign fund of political parties (alliances of political parties) running in

 elections of the National Assembly and the Council of Elders of Yerevan shall be

 collected in the Central Bank of the Republic of Armenia, whereas means of the

 campaign fund of candidates, political parties running in other elections shall be

 collected in any commercial bank having a branch in Yerevan and all marzes of

 the Republic. The Central Bank of the Republic of Armenia shall provide the

 Central Electoral Commission with the list of such banks. For the purpose of

 forming a campaign fund, banks shall open temporary special accounts based on

 the applications of candidates, political parties (alliances of political parties)

 running in elections. Revenues shall not be calculated and paid from those

 accounts.

2. The campaign fund of a candidate shall be formed from:

 (1) his or her personal funds;

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 (2) funds provided by the political party that has nominated him or her;

 (3) voluntary contributions by persons having the right to elect.

3. The campaign fund of a political party (alliance of political parties) running in

 elections shall be formed from:

 (1) funds of that political party (member political parties of the alliance);

 (2) personal funds of a candidate included in the electoral list of the political

 party (alliance of political parties) running in elections;

 (3) voluntary contributions by persons having the right to elect.

4. Amounts paid to accounts of campaign funds by natural and legal persons not

 referred to in parts 2 and 3 of this Article shall be transferred to the State

 Budget. Anonymous contributions made to the account of campaign funds shall

 also be transferred to the State Budget.

5. The procedure for record keeping of contributions made to campaign funds, and

 expenditures made from such funds shall be prescribed by the Central Electoral

 Commission.

6. The maximum amounts of contributions made to campaign funds shall be

 prescribed by this Code. Campaign fund contribution parts, which are in excess

 of the maximum amount of contributions prescribed by this Code, shall be

 transferred to the State Budget.

7. Banks where temporary special accounts are opened shall — once every

 3 working days after the expiry of the time limit prescribed by this Code for the

 registration of candidates, electoral lists of political parties running in elections —

 submit to the Oversight and Audit Service of the Central Electoral Commission a

 statement of information on financial receipts and expenditure of campaign

 funds of candidates, political parties (alliances of political parties) running in

 elections. The Oversight and Audit Service shall summarise such data, draw up a

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 brief statement of information and post it on the website of the Central Electoral

 Commission.

8. Attachment may not be imposed on means of the campaign fund, such means

 may not be subject to levy in execution due to personal obligations not related to

 the election campaign of a candidate, political party (alliance of political parties)

 running in elections.