The regulations concerning party funding were approved by the Central Election Commission (CEC) on December 23.The document defines the conditions and methods of financially supporting the political parties, IPN reports.
Under the regulations, each quarter by the date of 15 of the last month and each year by March 31 the parties will present reports on their financial activity to the CEC. The parties that benefit from subsidies from the state budget will present such reports also to the Audit Office. Each party will make payments only by bank transfers.
If they do not present financial reports or commit other violations, the parties will be penalized and risk even being deprived of financial support from the state budget for a period of a month to six months.
The parties whose annual revenues or costs exceed 1 million lei are obligated to have an audit of the financial reports at least once in three years. The auditor will be chosen by the party and must not have been a party member or treasurer in the election campaign during the last five years
The CEC will ensure the supervision and control of party funding.
