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POLITICAL PARTIES OF ARMENIA TO BE OBLIGED TO PUBLISH THEIR FINANCIAL FLOWS
arminfo
Thursday, February 9, 19:15
The Armenian parliament made alterations to the law "On parties",
and alterations and amendments to the Administrative Offenses Code
and Civil Code in the second and final reading, Thursday.
Justice Minister Hrayr Tovmasyan said 3 written suggestions were
received by the second reading, with two of them were accepted fully
and the other partially.
According to the draft law, it is forbidden to finance a party by
foreign states, organizations and citizens and the companies with
foreign capital. If earlier the share of the foreign participation was
25%, at present it will become 30%. The diversification of financing
is another new limit in the law. According to the draft law, the sums
as well as property and services, got by a party as a gift, can be not
more than a million size of the minimal salary for a year. Donation
more than 10 thousand-fold of the minimal salary is not allowed from
one commercial organization or individual person, and 1 thousand-fold
- from a non-commercial organization. The donations more than 100
thousand-fold of the minimal salary (100 thsd drams or $265) must
not be transferred in cash. The parties will be obliged to publish
their annual financial reports, in which besides the financial flows
they should mention expenses for the election campaign. Every year,
not late than on 25 March the parties must publish in the press the
report about the funds spent and received by them and to present the
audit conclusion on the matter if necessary. The parties, the assets of
which are more than 10 mln drams, will be obliged to publish reports
and the audit conclusion after holding of audit.
arminfo
Thursday, February 9, 19:15
The Armenian parliament made alterations to the law "On parties",
and alterations and amendments to the Administrative Offenses Code
and Civil Code in the second and final reading, Thursday.
Justice Minister Hrayr Tovmasyan said 3 written suggestions were
received by the second reading, with two of them were accepted fully
and the other partially.
According to the draft law, it is forbidden to finance a party by
foreign states, organizations and citizens and the companies with
foreign capital. If earlier the share of the foreign participation was
25%, at present it will become 30%. The diversification of financing
is another new limit in the law. According to the draft law, the sums
as well as property and services, got by a party as a gift, can be not
more than a million size of the minimal salary for a year. Donation
more than 10 thousand-fold of the minimal salary is not allowed from
one commercial organization or individual person, and 1 thousand-fold
- from a non-commercial organization. The donations more than 100
thousand-fold of the minimal salary (100 thsd drams or $265) must
not be transferred in cash. The parties will be obliged to publish
their annual financial reports, in which besides the financial flows
they should mention expenses for the election campaign. Every year,
not late than on 25 March the parties must publish in the press the
report about the funds spent and received by them and to present the
audit conclusion on the matter if necessary. The parties, the assets of
which are more than 10 mln drams, will be obliged to publish reports
and the audit conclusion after holding of audit.