Dáil bye-elections 2009

D. Opening and maintaining a political donations account when required to do so

1.22 If a candidate receives, in any particular calendar year, a monetary donation, the value of which exceeds €126.97, he/she must open and maintain a political donations account in a financial institution in the State. [A credit union is not regarded as a "financial institution" for the purposes of the legislation]. The candidate must lodge that donation and any further such monetary donations, of whatever value, received by him/her to that account. The account should be separate from any other personal account held by the candidate. The account should be in the candidate's name and he/she should be the authorised signatory on the account. All monies withdrawn from the account must be used for political purposes.

1.23 If a candidate already operates a political donations account he/she should not open a separate political donations account specifically for the election. The candidate should ensure, instead, that all monetary donations, of whatever value, received in relation to the election are lodged to his/her existing political donations account. If the candidate wishes to open a specific "election account" he/she can transfer money from his/her political donations account to the election account. Monies transferred to an election account could be regarded as having been used for electoral purposes.

1.24 It should be noted that a candidate who is elected will have an ongoing requirement as a member of Dáil Éireann to maintain his/her political donations account and will be required, on an annual basis, to furnish documentation relating to the account to the Standards Commission.

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