Political funding bill will criminalise non-disclosure
The Independent Electoral Commission (IEC) has welcomed the signing into law of the Political Party Funding Bill.
The bill was signed into law by President Cyril Ramaphosa on Tuesday.
The commission’s CEO, Sy Mamabolo, says the commission is planning to implement the Political Party Funding Act on April 1.
Mamabolo briefed the media in Centurion on Wednesday ahead on the final voter registration weekend.
He did however acknowledge that the new laws won't impact disclosure ahead of this year's elections.
“But as soon thereafter there will be a requirement for them to submit and that may include election-related expenditures,” said Mamabolo.
Mamabolo explained that the disclosure of party funding is a dual disclosure system, with party funding over R100 000 to be disclosed by the funder and receiver.
Should political parties and donors fail to disclose donations - criminal prosecution might follow.
“There are in-built conscience in the act itself. Firstly, there are fines that can meted out by the commission and also there are criminal offenses that could arise.”