The Election Commission has requested Nepal Rastra Bank to make arrangements for opening bank accounts for candidates contesting the House of Representatives elections.
In a formal letter to the central bank, the Commission stated that candidates are required to conduct all election-related expenditures through bank accounts and must designate a responsible official to manage such expenses on their behalf. The request aims to ensure compliance with existing legal provisions.
According to Clause 16 of the Election Code of Conduct issued under Section 23 of the Election Commission Act, 2017 (2073 BS), candidates must open a separate account at a bank or financial institution and carry out all election-related spending exclusively through that account.
Similarly, political parties are also required to open separate bank accounts for election expenses and conduct spending through officials designated by the party. Any financial assistance exceeding NPR 25,000 must be received through banks or financial institutions.
The provisions further state that if voluntary donations are received in cash from any individual or institution, a receipt must be issued. Funds received in the name of a political party must be deposited into the party’s bank account, while donations received in the name of a candidate must be deposited into the candidate’s account.
The Election Commission has said that effective implementation of these measures will help make the general election clean, fair, economical, and transparent. It has therefore urged the central bank to facilitate the opening of bank accounts for political parties and first-past-the-post candidates.
These provisions will also apply to candidates under the proportional representation system. Separate bank accounts must be opened and operated for each political party and for each candidate under both electoral systems, and the accounts will remain operational until the Election Commission decides to close them after the completion of the general election.
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