Canada Elections Act

Marginal note:Bank account

• 437 (1) An official agent of a candidate shall open, for the sole purpose of the candidate’s electoral 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 official agent), official agent”.

• Marginal note:Payments and receipts

  (3) All financial transactions of the candidate in relation to an electoral 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) After the election or the withdrawal or death of the candidate, the official agent of a candidate shall close the account once any unpaid claim or surplus of electoral funds has been dealt with in accordance with this Act.

• Marginal note:Final statement of bank account

  (5) The official agent shall, on closing the account, provide the Chief Electoral Officer with the final statement of the account.