Loans to candidates
262 Loans to candidates
If, during the disclosure period for an election, a candidate in the election receives a loan of an amount equal to or more than the gift threshold amount, the candidate’s agent must give the commission a return about the loan.
Notes—
1 Section 204A does not apply to an associated entity of a candidate in an election for this division.
2 See section 294 for the requirement for a return about a loan received by an associated entity of a candidate to be given to the commission.
The return must—
be in the approved form; and
state the following—
the date on which the loan was made;
the relevant particulars of the entity that made the loan;
the terms and conditions of the loan;
if the entity is not the source of the loan—the relevant particulars of the entity that is the source of the loan;
whether or not the loan is a political donation; and
be given to the commission by the day, or the time, not more than 15 weeks after the polling day for the election, prescribed by a regulation.
Also, the agent of a candidate in an election must, within 15 weeks after the polling day for the election, give the commission a return, in the approved form, stating—
if the candidate received loans during the disclosure period for the election—
the total value of all loans received by the candidate during the disclosure period; and
the number of entities that made the loans; or
otherwise—that no loans of a kind required to be disclosed were received.
For subsection (1), 2 or more loans made, during the disclosure period for an election, by the same entity to a particular candidate are taken to be 1 loan.
This provision refers to the regulations (a regulation
). Made under this Act:
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