| (a) | deposit all donations received by that political party, membership fees and levies imposed by the political party on its representatives into an account with a bank registered as a bank in terms of the Banks Act, 1990 (Act No. 94 of 1990), in that political party’s name; |
| (b) | keep a separate account with a bank registered as a bank in terms of the Banks Act, 1990 (Act No. 94 of 1990), into which all money allocated to it from the Funds must be deposited; |
| (c) | appoint an office-bearer or official of that political party as its accounting officer; and |
| (d) | if it is represented in the National Assembly or a provincial legislature, appoint an auditor registered and practising as such in terms of the Auditing Professions Act, 2005 (Act No. 26 of 2005), to audit its books and financial statements. |
[Section 12(1)(d) substituted by section 17(a) of the Electoral Matters Amendment Act, 2024, Notice No. 4790, GG50624, dated 7 May 2024 - Commencement 8 May 2024 by Proclamation 165, GG50628, dated 8 May 2024]
| (2) | The accounting officer contemplated in subsection (1)(c) must— |
| (a) | account for all income received by the political party; |
| (i) | any money allocated from the Funds is not paid out for a purpose not authorised by this Act; and |
| (ii) | the political party complies with this Act; |
| (c) | keep separate books and records of account, in the prescribed manner, in respect of money allocated from the Funds and all transactions involving that money; |
| (d) | within the prescribed period— |
| (i) | prepare a statement showing all money received by the represented political party from the Funds during the previous financial year, the application of that money and the purposes for which the money has been applied; and |
| (ii) | prepare a statement showing all donations and membership fees, and any levy imposed by the political party on its elected representatives during that financial year; |
| (iii) | [Section 12(2)(d)(iii) deleted by section 17(b)(c)(d) of the Electoral Matters Amendment Act, 2024, Notice No. 4790, GG50624, dated 7 May 2024 - Commencement 8 May 2024 by Proclamation 165, GG50628, dated 8 May 2024] |
| (e) | if the political party is represented in the National Assembly or a provincial legislature, submit those statements and the books and records of account to an auditor appointed in terms of subsection (1)(d); and |
| (f) | if the political party is not represented in the National Assembly or a provincial legislature, submit those statements and the books and records of account together with a prescribed confirmation letter from its bank and affidavit confirming the correctness of their contents to the Commission in the prescribed form and within the prescribed period. |
[Section 12(1)(e)(f) inserted by section 17(e) of the Electoral Matters Amendment Act, 2024, Notice No. 4790, GG50624, dated 7 May 2024 - Commencement 8 May 2024 by Proclamation 165, GG50628, dated 8 May 2024]
| (3) | On receipt of the statements, books and records contemplated in subsection (2)(e), the auditor must perform an audit of the financial statements and express an opinion on those statements— |
[Words preceding section 12(3)(a) substituted by section 17(f) of the Electoral Matters Amendment Act, 2024, Notice No. 4790, GG50624, dated 7 May 2024 - Commencement 8 May 2024 by Proclamation 165, GG50628, dated 8 May 2024]
| (a) | indicating whether the donations received by the political party comply with section 8(1); |
| (b) | listing the donations required to be disclosed in terms of section 9(1); |
| (c) | listing the donations under the threshold prescribed in section 9(1); |
| (d) | indicating whether any income was received by the political party other than provided for in terms of this Act; |
| (e) | indicating whether the transactions in the financial statements related to the money allocated from the Funds are in accordance with this Act; and |
| (f) | indicating whether any money lent to a political party is on commercial terms |
| (4) | The accounting officer of a political party represented in the National Assembly or a provincial legislature must submit the auditor’s opinion and audited financial statements to the Commission within the prescribed period. |
[Section 12(4) substituted by section 17(g) of the Electoral Matters Amendment Act, 2024, Notice No. 4790, GG50624, dated 7 May 2024 - Commencement 8 May 2024 by Proclamation 165, GG50628, dated 8 May 2024]
| (4A) | Where a political party that previously was not represented in the National Assembly or a provincial legislature, becomes represented after an election of the legislature concerned— |
| (a) | its accounting officer must submit the statements and the books and records of account contemplated in subsection (2)(c) and (d) for the previous two financial years to an auditor appointed in terms of subsection (1)(d); |
| (b) | the auditor must perform an audit of the financial statements and express an opinion on those statements in compliance with subsection (3); and |
| (c) | its accounting officer must submit the auditor’s opinion and audited financial statements to the Commission within the prescribed period. |
[Section 12(4A) inserted by section 17(h) of the Electoral Matters Amendment Act, 2024, Notice No. 4790, GG50624, dated 7 May 2024 - Commencement 8 May 2024 by Proclamation 165, GG50628, dated 8 May 2024]
| (5) | The Auditor-General may at any reasonable time audit any represented political party’s books, records of account and financial statements relating to money allocated to the party from the Political Representatives Fund. |
[Section 12(5) substituted by section 17(i) of the Electoral Matters Amendment Act, 2024, Notice No. 4790, GG50624, dated 7 May 2024 - Commencement 8 May 2024 by Proclamation 165, GG50628, dated 8 May 2024]
