16. Requirement on Third party to open and maintain a Political Donations Account

16.1     If a third party receives, in any particular calendar year, a monetary donation for political purposes which exceeds €100, it is required to open and maintain an account in a financial institution (a political donations account) and lodge that donation and any further such monetary donations, of whatever value, received by the third party to that account.  [It should be noted that a credit union is not regarded as a financial institution for the purposes of the Act].

16.2     If a third party campaigning at the election is already the holder of a political donations account, it is not necessary to open a new account specifically for donations received in relation to the election campaign. In such circumstances monetary donations, of whatever value, received in relation to the election campaign must be lodged to the existing political donations account.

16.3     Furnishing of Statutory Documentation in relation to a political donations account.  

Where a third party has been required to open a political donations account, the responsible person of the third party will be required to furnish to the Standards Commission a Certificate of Monetary Donations and a statement from the financial institution where the account is held (bank statement).  This documentation must be furnished by 31 March each year following the opening of the political donations account.  The Certificate of Monetary Donations must be signed by the responsible person stating that all monetary donations received after the account was opened were lodged to the account and that all amounts debited from the account were used for political purposes.  The Certificate must be accompanied by a Statutory Declaration.

16.4     The bank statement must specify the transactions that have taken place in relation to the account during the period beginning on the date of opening of the account up to the end of the calendar year, or the date of closing of the account if the third party ceases to exist.

16.5     The Standards Commission Secretariat will be in contact with registered third parties at the beginning of the relevant calendar year and will provide a Certificate of Monetary Donations form for completion.

16.6     Certificates of Monetary Donations and their accompanying bank statements are retained by the Standards Commission and are not put on public display or otherwise disclosed, unless required by court order or an enquiry by the Standards Commission.