Canada Elections Act

Marginal note:Bank account

• 478.72 (1) A leadership contestant’s financial agent shall open, for the sole purpose of the contestant’s leadership 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 shall name the account holder as follows: “(name of financial agent), financial agent”.

• Marginal note:Deposits into account

  (3) All of a leadership contestant’s financial transactions in relation to the contestant’s leadership campaign that involve the receipt of money are to be deposited to the account unless the transaction involves the receipt of the contestant’s own funds and those funds are used to pay a litigation expense or a personal expense.

• Marginal note:Payments from account

  (3.1) All of a leadership contestant’s financial transactions in relation to the contestant’s leadership campaign that involve the payment of money are to be paid from the account unless the transaction involves the payment out of the contestant’s own funds of a litigation expense or a personal expense.

• Marginal note:Closure of bank account

  (4) After the end of the leadership contest or the withdrawal or death of the leadership contestant, the contestant’s financial agent shall close the account once all unpaid claims and surplus leadership 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.