The Electoral Commission has published its draft regulations for the Political Party Funding Act.
The new legislation repeals a 1997 Act to better regulate the public and private funding of political parties.
It establishes a multi-party democracy fund that will fund all political parties from state coffers.
The new law will prohibit certain donations being made directly to political parties and compel them to disclose private donations to the electoral commission.
Political parties will not be allowed to accept donations from foreign governments or agencies.
Chief Electoral Officer (CEO) of the Electoral Commission Sy Mamabolo says the act should be implemented by April.
We work within the parameters of what is in the law. So the first disclosures will be made at the end of the first quarter in the financial year, so it will be April, May, June. So parties will have to make disclosures at that point.— Sy Mamabolo, CEO - Electoral Commission
It is incumbent upon the parties to disclose all donations they received, but that disclosure is going to happen at the end of the quarter, so it is a quarterly disclosure.— Sy Mamabolo, CEO - Electoral Commission
The requirement of the law is that parties must begin to compile all information related to who gives them money or any other donations in kind, by the 1st of April. The IEC will have to issue a summary of the donations, unfortunately there will not be any disclosures before elections.— Sy Mamabolo, CEO - Electoral Commission
Stakeholders have until 21 March to comment and make submissions on the draft regulations.
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