Annual Report 2002

Accounting Units

Section 49 of the 2001 Act came into operation on 1 January 2002 and introduced a new entity in relation to political parties called accounting units. An 'accounting unit', in relation to a political party, means a branch, including the headquarters of a political party if it is a separate accounting unit or other subsidiary organisation of the party, which in any particular year, receives a donation the value of which exceeds
€126.97. On receipt of such a donation, which is a monetary donation, the accounting unit is required to open and maintain an account in a financial institution and to lodge that donation and any further monetary donation received by it, of whatever value, to that account.

An accounting unit, must not, directly or through any intermediary, accept from a particular person in a particular year a donation the value of which exceeds
€6,348.69.

An accounting unit, must not, directly or through any intermediary, accept a donation of whatever value given by -

(a) an individual (other than an Irish citizen) who resides outside the island of Ireland, or

(b) a body corporate or unincorporated body of persons which does not keep an office in the island of Ireland, being an office from which the carrying on of one or more of its principal activities is directed.

The appropriate officer of each political party is required to notify the Standards Commission, as soon as possible, and from time to time thereafter as circumstances require, of the name and address of each accounting unit of the political party and the name of the responsible person or persons of the accounting unit. 'Responsible person' in relation to an accounting unit, means the treasurer or any other person responsible for dealing with donations to the unit.

The responsible person of each accounting unit, must, by 31 March 2003 in relation to the year 2002, furnish to the Standards Commission a statement provided by the financial institution where the accounting unit has opened the political donations account referred to above, specifying the transactions which have taken place in relation to the account during the preceding year together with a certificate signed by the responsible person stating that all monetary donations received by the accounting unit during the preceding year were lodged to the said account and all amounts debited from the account were used for political purposes. The certificate must be accompanied by a statutory declaration that, to the best of the person's knowledge and belief, the certificate is correct in every material respect and that the person has taken all reasonable action in order to be satisfied as to the accuracy of the certificate. In accordance with the legislation, these certificates, statements and statutory declarations are not put on public display.

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