The political parties that will not present financial reports will be prevented from taking part in the electoral race. Such a modification was included in a bill with amendments to the Law on Political Parties, Info-Prim Neo reports. Central Election Commission (CEC) chairman Iurie Ciocan said that Moldova needs very exact laws to regulate the application procedure and terms. The proposed bill obliges the political parties to present financial reports will all the data about incomes, including donations from private individuals and legal entities. The bill says when the reports must be made public. “We described all these details in the bill. We consider this is very important as the reports may give reasons for initiating verifications,” said Iurie Ciocan. Project manager at the International Foundation for Electoral Systems Natalia Iuras stated that one of the amendments to the law says the financial reports must contain information at least about the property, incomes and obligations of the party, donations made to it and its expenses. The reports would be sent to the CEC for examination. If the parties do not obey the report presentation term, provide incorrect data or misuse the allocations from the state budget, they will be punished. The penalties will be warning, then a fine of five monthly salaries, suspension of allocations from the state budget, a fine of 20 monthly salaries, and the last – the CEC will inform the Ministry of Justice so that it initiates the procedure for disbanding the political party. If the provision about donations is violated, the parties will have to give back the sums donated to them within ten days. Otherwise, the CEC will demand removing the violations during three days. If the parties do not comply again, they will have to pay a fine that will represent the double size of the given sum. The legal entities with debts older than 60 days will not be able to donate money to political parties. The mechanism for regulating the donations from remittances has not been yet set. As to the dues, the information about their size and the payment method will be available on the website of the CEC and the political party. As regards public financing, it is proposed allocating 0.2% of the state budget for parties, which is 42.7 million lei for 2012. The bill is being debated and will be put to the vote in Parliament by October 1.