08:02 GMT +327 April 2018
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    Russia's Law on Disclosure of Political Party Funding Comes Into Force

    © RIA Novosti . Alexei Kudenko
    Russia
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    MOSCOW (Sputnik) - A law obliging political parties to disclose information on sources of funding comes into force on January 1. These amendments to the bill on political parties were drafted by Russian parliament's lawmakers headed by Anatoly Vyborny to prevent shadow financing of political parties.

    Now, if the amount of the membership fee or donation exceeds a certain limit, the party will have to reflect information about these funds and the payers themselves in its consolidated report. It is planned that the threshold beyond which the party is obliged to disclose data on sources of funding will be established by the Central Election Commission's (CEC) regulatory documents.

    In addition, the law limits the amount of admission and membership fees. Now the maximum amount that a party member can make as an introductory or membership fee should not exceed 4,330,000 rubles ($74,700) a year.

    The amendment was prepared after the recommendations of the Group of States Against Corruption (GRECO), which ordered to take appropriate measures to ensure that membership fees are not used to circumvent the transparency rules applied to donations.

    The Russian Federation Council has approved the law in late November.

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    Tags:
    amendments, disclosure, party, transparency, finance, law, funding, regulations, election, Russia
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