sec.127AARequirement for registered political party to operate dedicated account

### sec.127AA Requirement for registered political party to operate dedicated account This section applies to a registered political party that endorses a candidate in an election. The registered political party must operate an account with a financial institution if the party pays an amount mentioned in subsection (3) . All amounts paid by the registered political party, or a person acting with the authority of the party, during the party’s disclosure period for the election for electoral expenditure incurred by the party must be paid— out of the account; and in a way permitted under section 127A . The account must not, during the registered political party’s disclosure period for the election, be used for paying an amount other than an amount under subsection (3) . A restricted donation received by the political party must not be paid into the account. If an amount remains in the account at the end of the registered political party’s disclosure period for the election, the amount or part of the amount may— be kept in the account for incurring electoral expenditure for another election; or be paid to the party; or be paid to a charity nominated by the party. An amount mentioned in subsection (6) must not be dealt with other than under that subsection. The registered political party 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. s 127AA ins 2023 No. 8 s 44 amd 2026 No. 1 s 40 (sec.127AA-ssec.1) This section applies to a registered political party that endorses a candidate in an election. (sec.127AA-ssec.2) The registered political party must operate an account with a financial institution if the party pays an amount mentioned in subsection (3) . (sec.127AA-ssec.3) All amounts paid by the registered political party, or a person acting with the authority of the party, during the party’s disclosure period for the election for electoral expenditure incurred by the party must be paid— out of the account; and in a way permitted under section 127A . (sec.127AA-ssec.4) The account must not, during the registered political party’s disclosure period for the election, be used for paying an amount other than an amount under subsection (3) . (sec.127AA-ssec.5) A restricted donation received by the political party must not be paid into the account. (sec.127AA-ssec.6) If an amount remains in the account at the end of the registered political party’s disclosure period for the election, the amount or part of the amount may— be kept in the account for incurring electoral expenditure for another election; or be paid to the party; or be paid to a charity nominated by the party. (sec.127AA-ssec.7) An amount mentioned in subsection (6) must not be dealt with other than under that subsection. (sec.127AA-ssec.8) The registered political party 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. - (a) out of the account; and - (b) in a way permitted under section 127A . - (a) be kept in the account for incurring electoral expenditure for another election; or - (b) be paid to the party; or - (c) be paid to a charity nominated by the party.