§ 66 — Separate accounts for political donations (political donations fund)

66.—(1) Subject to this Act, a politically significant person who is —(a)

a political party;

(b)

a candidate;

(c)

an election agent of a candidate;

(d)

a political office holder;

(e)

a Member of Parliament (whether or not a political office holder);

(f)

a senior political party official of a political party; or

(g)

a Part 4 politically significant person given a political donations fund directive,

must each establish and maintain, with an authorised deposit‑taking institution in an account denominated in Singapore dollars, and in accordance with the Regulations, a political donations fund, until any terminal event mentioned in subsection (4) first happens.

(2) If a politically significant person mentioned in subsection (1) holds more than one capacity at the same time, a separate political donations fund need not be established and maintained for each capacity.

(3) A politically significant person mentioned in subsection (1) must pay the following moneys into its political donations fund, and no other moneys:(a)

all moneys received by it as political donations on or after the date of commencement of this section;

(b)

the proceeds of the investment or disposal of any political donation of property that is acquired (whether before, on or after that date) as an asset of the account of the politically significant person.

(4) For the purposes of subsection (1), a terminal event —(a)

means the date the person ceases to be a politically significant person; and

(b)

in the case of a Part 4 politically significant person, includes the date where the political donations fund directive given to the Part 4 politically significant person ceases to have effect in relation to that politically significant person.

(5) Upon the happening of a terminal event, the politically significant person’s political donation fund or funds may be closed without further approval from the competent authority.

(6) A politically significant person commits an offence if the person, without reasonable excuse, contravenes subsection (1) or (3).

(7) A politically significant person who is guilty of an offence for contravening subsection (1) or (3) shall be liable on conviction to a fine not exceeding $5,000 and, in the case of a continuing offence, to a further fine not exceeding $500 for every day or part of a day during which the offence continues after conviction.[Act 8 of 2023 wef 29/12/2023]

—(1) Subject to this Act, a politically significant person who is —(a)

a political party;

(b)

a candidate;

(c)

an election agent of a candidate;

(d)

a political office holder;

(e)

a Member of Parliament (whether or not a political office holder);

(f)

a senior political party official of a political party; or

(g)

a Part 4 politically significant person given a political donations fund directive,

must each establish and maintain, with an authorised deposit‑taking institution in an account denominated in Singapore dollars, and in accordance with the Regulations, a political donations fund, until any terminal event mentioned in subsection (4) first happens.

(2) If a politically significant person mentioned in subsection (1) holds more than one capacity at the same time, a separate political donations fund need not be established and maintained for each capacity.

(3) A politically significant person mentioned in subsection (1) must pay the following moneys into its political donations fund, and no other moneys:(a)

all moneys received by it as political donations on or after the date of commencement of this section;

(b)

the proceeds of the investment or disposal of any political donation of property that is acquired (whether before, on or after that date) as an asset of the account of the politically significant person.

(4) For the purposes of subsection (1), a terminal event —(a)

means the date the person ceases to be a politically significant person; and

(b)

in the case of a Part 4 politically significant person, includes the date where the political donations fund directive given to the Part 4 politically significant person ceases to have effect in relation to that politically significant person.

(5) Upon the happening of a terminal event, the politically significant person’s political donation fund or funds may be closed without further approval from the competent authority.

(6) A politically significant person commits an offence if the person, without reasonable excuse, contravenes subsection (1) or (3).

(7) A politically significant person who is guilty of an offence for contravening subsection (1) or (3) shall be liable on conviction to a fine not exceeding $5,000 and, in the case of a continuing offence, to a further fine not exceeding $500 for every day or part of a day during which the offence continues after conviction.[Act 8 of 2023 wef 29/12/2023]