Canada Elections Act

Marginal note:Bank account

• 478.72 (1) A leadership contestant’s financial agent shall open, for the sole purpose of the contestant’s leadership 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 shall name the account holder as follows: “(name of financial agent), financial agent”.

• Marginal note:Payments and receipts

  (3) All of a leadership contestant’s financial transactions in relation to the contestant’s leadership 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 end of the leadership contest or the withdrawal or death of the leadership contestant, the contestant’s financial agent shall close the account once all unpaid claims and surplus leadership campaign funds have been dealt with in accordance with this Act.

• Marginal note:Final statement of bank account

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