§ Art. IV-213Electoral Fund of a Party Organization, a Local Council Candidate and a Candidate

for Village, Settlement and City Mayor
 1. A party organization that nominated an electoral list of candidates, a local council
candidate, a candidate for village, settlement or city mayor shall, in order to finance their own
election campaign, be entitled to open an account of their own electoral fund.
 The electoral fund of a party organization that nominated the electoral list (hereinafter, a party
organization’s electoral fund) shall have one accumulation account to which the funds for financing the
election campaign thereof shall be transferred, as well as current accounts from which the expenditures
relating to election campaigning shall be covered. Resources shall be transferred to the current accounts
of a party organization’s electoral fund exclusively from the accumulation account of its electoral fund.
An accumulation account of a party organization’s electoral fund shall be opened on the basis of a copy
of the decision of the territorial election commission on the registration of candidates for local council
included in the electoral list of a party organization. A current account of a party organization’s electoral
fund shall be opened on the basis of a banking institution’s certificate on the opening of a party
organization’s accumulation account.
 The electoral fund of a local council candidate, a candidate for village, settlement or city mayor
shall have one current account to which the funds for financing the election campaign shall be
transferred. A current account of the electoral fund shall be opened on the basis of a copy of the decision
of the territorial election commission on registration of the respective candidate.
 2. The procedure for opening and closing the accounts of electoral funds of a party organization
or a candidate shall be approved no later than fifty days prior to the day of ordinary elections by the
National Bank of Ukraine in coordination with the Central Election Commission.
 3. A party organization, a local council candidate, a candidate for village, settlement or city
mayor shall open an accumulation accounts and current accounts, respectively, of their electoral
funds at a banking institution, which shall be chosen at their sole discretion, located within the
respective election district or in the territory of the respective village, settlement or rayon. A party
organization or a candidate shall open the respective accounts of its/his/her electoral fund only in the
national currency.
 A party organization may open current accounts of its electoral fund in the amount of no more than
one for one territorial election district within the multi-member election district. One current account
of a party organization’s electoral fund may be used for several territorial election districts.
 4. The funds in the accounts of the electoral fund shall be spent in a cashless form.
 5. The banking institutions’ services relating to the opening and closing of the accounts of the
electoral fund shall be delivered on a regular basis. A banking institution shall neither accrue nor pay
any interests on the funds maintained in the accounts of the electoral fund.
 6. No later than on the next business day following the day of the opening of the account of the
electoral fund, the banking institution shall notify the territorial election commission in writing of the
opening of the respective account and its details.
 7. The information on the opening of the account of an electoral fund and its respective details
may be made public in print mass media or online at the expense of the resources of the electoral
fund.
 8. The spending of the funds in current accounts of the electoral fund after 18:00 hours on the last
day prior to the day of voting shall be performed only in the case if invoices for payment for goods,
works, and services were issued prior to the aforementioned time.

 

 The spending of the funds in current accounts of the electoral fund shall be terminated at 18:00
hours on Wednesday after the day of voting.
 9. The accounts of the electoral fund shall be closed by a banking institution on the sixteenth
day after the day of the official promulgation of the results of the respective local elections.
 10. Seizure of the funds or termination of transactions in the accounts of the electoral fund, or
closing such accounts before the deadline specified in this Article shall not be allowed.