Requirements for loan amounts paid into State campaign account
217 Requirements for loan amounts paid into State campaign account
This section applies if—
an election participant is a registered political party or candidate; and
the amount of a loan made to the participant is paid into the participant’s State campaign account.
A person must not pay an amount payable under the loan unless the person pays the amount from the election participant’s State campaign account.Maximum penalty—200 penalty units.
If the election participant, or a person acting with the participant’s authority, becomes aware an amount is a non-donation loan amount, the participant or person must ensure an amount equal to the non-donation loan amount is withdrawn from the participant’s State campaign account within 5 business days after becoming aware.Maximum penalty—200 penalty units.
A person does not commit an offence against subsection (2) or (3) if the person has a reasonable excuse.
In this section—amount payable, under a loan, includes—
an amount of the principal or interest payable on the loan; and
a fee, duty or other charge payable for the loan.
non-donation loan amount means an amount forgiven on a loan, to the extent the amount is not a political donation.
Note—See section 250(1) for the requirement for an amount to be accompanied by a donor statement to be a political donation.
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