sec.126Requirement for candidate to operate dedicated account

### sec.126 Requirement for candidate to operate dedicated account This section applies to a candidate for an election. The candidate must operate an account with a financial institution if the candidate receives an amount mentioned in subsection (3) or pays an amount mentioned in subsection (4) . All amounts received by the candidate, or a person acting with the authority of the candidate, during the candidate’s disclosure period for the election for the conduct of the candidate’s election campaign, including all gifts received by the candidate for the election, and all amounts received as loans to the candidate, must be placed in the account. All amounts paid by the candidate, or a person acting with the authority of the candidate, during the candidate’s disclosure period for the election for the conduct of the candidate’s election campaign, including electoral expenditure incurred by the candidate, must be paid— out of the account; and in a way permitted under section 127A . The account must not, during the candidate’s disclosure period for the election, be used other than for receiving and paying amounts under subsections (3) and (4) . If an amount remains in the account at the end of the disclosure period, the amount or part of the amount may— be kept in the account for the conduct of another election campaign by the candidate; or if the candidate was a member of a political party during the disclosure period—be paid to the political party; or be paid to a charity nominated by the candidate. An amount mentioned in subsection (6) must not be dealt with other than under that subsection. The candidate must take all reasonable steps to ensure the requirements of subsections (2) to (7) are complied with. Maximum penalty for subsection (8) —100 penalty units. Amounts mentioned in subsections (3) and (4) do not include amounts received or paid out by— a registered political party that endorsed the candidate for the election; or a group of candidates for the election of which the candidate is a member. s 126 amd 2017 No. 12 s 25; 2019 No. 30 s 186 ; 2023 No. 8 s 42 ; 2023 No. 30 s 113A (sec.126-ssec.1) This section applies to a candidate for an election. (sec.126-ssec.2) The candidate must operate an account with a financial institution if the candidate receives an amount mentioned in subsection (3) or pays an amount mentioned in subsection (4) . (sec.126-ssec.3) All amounts received by the candidate, or a person acting with the authority of the candidate, during the candidate’s disclosure period for the election for the conduct of the candidate’s election campaign, including all gifts received by the candidate for the election, and all amounts received as loans to the candidate, must be placed in the account. (sec.126-ssec.4) All amounts paid by the candidate, or a person acting with the authority of the candidate, during the candidate’s disclosure period for the election for the conduct of the candidate’s election campaign, including electoral expenditure incurred by the candidate, must be paid— out of the account; and in a way permitted under section 127A . (sec.126-ssec.5) The account must not, during the candidate’s disclosure period for the election, be used other than for receiving and paying amounts under subsections (3) and (4) . (sec.126-ssec.6) If an amount remains in the account at the end of the disclosure period, the amount or part of the amount may— be kept in the account for the conduct of another election campaign by the candidate; or if the candidate was a member of a political party during the disclosure period—be paid to the political party; or be paid to a charity nominated by the candidate. (sec.126-ssec.7) An amount mentioned in subsection (6) must not be dealt with other than under that subsection. (sec.126-ssec.8) The candidate must take all reasonable steps to ensure the requirements of subsections (2) to (7) are complied with. Maximum penalty for subsection (8) —100 penalty units. (sec.126-ssec.9) Amounts mentioned in subsections (3) and (4) do not include amounts received or paid out by— a registered political party that endorsed the candidate for the election; or a group of candidates for the election of which the candidate is a member. - (a) out of the account; and - (b) in a way permitted under section 127A . - (a) be kept in the account for the conduct of another election campaign by the candidate; or - (b) if the candidate was a member of a political party during the disclosure period—be paid to the political party; or - (c) be paid to a charity nominated by the candidate. - (a) a registered political party that endorsed the candidate for the election; or - (b) a group of candidates for the election of which the candidate is a member.