Canada Elections Act

Marginal note:Bank account

• 478.12 (1) The financial agent of a nomination contestant shall open, for the sole purpose of the contestant’s nomination campaign, a separate bank account in a Canadian financial institution as defined in section 2 of the Bank Act, or in an authorized foreign bank as defined in that section, that is not subject to the restrictions and requirements referred to in subsection 524(2) of that Act.

• Marginal note:Account holder name

  (2) The account must name the account holder as follows: “(name of financial agent), financial agent”.

• Marginal note:Payments and receipts

  (3) All financial transactions of the nomination contestant in relation to the contestant’s nomination campaign that involve the payment or receipt of money are to be paid from or deposited to the account.

• Marginal note:Closure of bank account

  (4) After the selection date, the financial agent of a nomination contestant shall close the account once any unpaid claims or surplus nomination campaign funds have been dealt with in accordance with this Act.

• Marginal note:Final statement of bank account

  (5) The financial agent shall, on closing the account, provide the Chief Electoral Officer with the final statement of the account.