Parties and blocs required to open election fundS within five days of  registering with RA CEC

ArmInfo. Parties and party blocs are required to open an election fund within five days of  registering their electoral lists with the Central Election  Commission. This was reported by the Central Election Commission of  Armenia.

The statement emphasizes that parties within blocs do not have the  right to form a separate election fund.  The election fund of parties  and blocs is formed from payments made by each individual party.

Funds can be opened at the following banks:

Ardshinbank JSC

Armeconombank JSC

ACBA Bank JSC

Unibank JSC

VTB-Armenia Bank JSC

Fast Bank JSC

The maximum limit for campaign expenditures from the fund is 800  million drams. Mandatory expenses incurred by the Fund and subject to  declaration include political advertising for election campaigns  placed in the media and online, sociological research, expenses for  the services of authorized representatives, expenses for the  preparation, placement, and distribution of campaign posters, printed  materials, and other materials, expenses for the rental of election  headquarters premises, expenses for holding cultural or sporting  events, expenses for the rental of halls and premises, and expenses  for the rental of vehicles, with the exception of vehicles with a  capacity of up to 7 seats.

Expenses not subject to declaration include utility costs for the  election headquarters, fuel costs for vehicles, pre-election  meetings, utility costs for premises and halls for meetings with  voters, and other events related to election campaigns.

Failure to declare expenses subject to declaration entails an  administrative fine equal to three times the amount of expenses not  included in the Fund's expenses. Exceeding the limit on incurred  expenses entails an administrative fine equal to three times the  amount exceeding the established maximum limit.

If the total amount of expenses and fines paid to the state budget  exceeds 120% of the maximum amount of the election fund, then, upon  application by the Central Electoral Commission, the court will  invalidate the registration of the party and bloc's electoral list  participating in the elections.

As a reminder, parliamentary elections will be held in Armenia on  June 7, with 19 political forces - 17 parties and two blocs -  participating.