Canada Elections Act

Marginal note:Bank account

• 435.21 (1) The financial agent of a leadership contestant 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 must name the account holder as follows: “(name of financial agent), financial agent”.

• Marginal note:Payments and receipts

  (3) All financial transactions of the leadership contestant in relation to the contestant’s leadership 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) The financial agent of a leadership contestant shall close the account after the end of the leadership contest or the withdrawal or death of the contestant and

  • (a) after the subsequent disposal of any surplus leadership campaign funds in accordance with this Act; or

  • (b) if there are unpaid claims at the end of the leadership contest, after those claims 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.