Article 40(Accounting report) #
(1) Every person in charge of accounting shall make an accounting report (hereinafter referred to as "accounting report") on the revenue and expenditure of political funds to the competent election commission by the deadlines set forth in the following: <Amended on Feb. 29, 2008; Jan. 15, 2016; Jun. 30, 2017; Feb. 20, 2024>
1. The person in charge of accounting of each political party:
a. The year during which he or she does not participate in an election for public office:
By February 15 (by January 31 in the case of a City/Do party branch office) of the next year as of December 31 from January 1 of every year;
b. The year during which the relevant political party participates in nationwide elections for public office:
Within 30 days (40 days, in the case of a presidential election or an election for proportional representative National Assembly members) after an election in the relevant year is held as of the date 20 days after the election (where a party election campaign office is closed 20 days after the election, referring to the date of its closure) from January 1 of every year (in the case of a party election campaign office, the date of its establishment); by February 15 (by January 31, in the case of a City/Do party branch office) of the next year as of December 31 from the date 20 days after the election;
c. The year during which the relevant political party participates in by-elections for public office, which are held in part of the national constituencies:
Item a shall apply to the Central Party and policy development institutes and item b shall apply to a relevant City/Do party branch office and party election campaign offices;
2. A person in charge of accounting for a National Assembly or local council member who has a supporters' association:
a. The year during which he or she does not participate in an election for public office:
By January 1 of the next year as of December 31 from January 1 of every year;
b. The year during which he or she participates in an election for public office:
Within 30 days after an election is held as of the date 20 days after the election from January 1 of every year; By January 31 of the next year as of December 31 from the date 20 days after the election;
3. A person in charge of accounting of a supporters' association for the Central Party (including the supporters' association for the Preparatory Committee for Central Party Formation) and a person in charge of accounting of a supporters' association for a National Assembly or local council member:
a. The year during which it is permitted to collect the limited amount of annual contributions:
By July 31 as of June 30 from January 1 of every year; by January 31 of the next year as of December 31 from July 1;
b. The year during which it is permitted to collect twice the limited amount of annual contributions:
Within 30 days after an election is held as of the date 20 days after the election from January 1 of every year; by January 31 of the next year as of December 31 from the date 20 days after the election; provided, where the election is held in December, item a shall apply.
4. The person in charge of accounting of a candidate for an intra-party competition in a presidential election or a candidate, etc. for a party representative competition and his or her supporters' association:
Within 30 days after an intra-party competition is held as of the date 20 days after such competition. In such cases, the person in charge of accounting of a National Assembly or local council member who has a supporters' association shall, notwithstanding subparagraph 2, make an accounting report within 30 days after a relevant competition is held as of the date 20 days after such competition from January 1 of every year or by January 1 of the next year as of December 31 from the date 20 days after the competition.
5. The person in charge of accounting of a candidate or preliminary candidate to run in elections for public office and his or her supporters' association:
Within 30 days (40 days, in the case of an independent candidate to run in a presidential election) after an election is held as of the date 20 days after the election (in the case of the party-fielded candidate to run in a presidential election, as of the previous date of candidate registration). In such cases, subparagraph 1b or c shall apply to the person in charge of accounting of the party-fielded candidate to run in a presidential election, election campaign offices and election campaign liaison offices of an election for proportional representative National Assembly members or an election for proportional representative local council members.
(2) Notwithstanding the provisions of paragraph (1), when any of the following grounds occur, the person in charge of accounting shall make an accounting report to the competent election commission within 14 days from the date on which such ground accrues: <Amended on Feb. 29, 2008; Jan. 25, 2010; Jan. 15, 2016; Jun. 30, 2017; Feb. 20, 2024>
1. When a political party is dissolved or its registration is revoked;
2. When the Preparatory Committee for Central Party Formation having a supporters’ association is dissolved;
3. When a supporters' association is dissolved pursuant to the provisions of Article 19(1) (excluding cases where a supporters' association is dissolved as the designation authority of the supporters' association is disqualified to have a supporters' association due to completion of elections or party competitions);
4. When a National Assembly or local council member, a candidate for an intra-party competition in a presidential election or a candidate, etc. for a party representative competition who has a supporters' association, retracts the designation of his or her supporters' associations or is disqualified to have a supporters' association (excluding cases where the designation authority of a supporters' association is disqualified due to completion of party competitions);
5. A preliminary candidate to run in an election for public office or his or her supporters' association is disqualified or dissolved 30 days before an election period commences.
(3) The matters that need to be entered in the accounting report pursuant to the provisions of paragraphs (1) and (2) shall be as follows: <Amended on Feb. 29, 2008; Jan. 15, 2016; Jun. 30, 2017>
1. Political parties and persons in charge of accounting of a supporters' associations:
a. The current status of property holdings:
For political parties, it shall be limited to an accounting report as of December 31;
b. The details of revenue for political funds:
In the case of a person providing political funds in excess of three hundred thousand won each time or in excess of three million won a year (five million won a year for supporters' association for a presidential candidate, etc. or a supporters' association for a candidate for an intra-party competition in a presidential election), the name, date of birth, domicile, occupation and telephone number of such person, the date of receiving the political funds and the amount thereof; in the case of a person providing political funds equivalent to or less than the said amounts, the number of receiving political funds and the total amount thereof; provided, this shall not apply to party membership fees;
c. The details of expenditure that are entered in the accounting book pursuant to the provisions of Article 37(1);
2. Persons in charge of accounting for the designation authority of a supporters' association (excluding political parties), a candidate for an intra-party competition in a presidential election, a candidate, etc. for a party representative competition, a candidate or preliminary candidate to run in an election for public office (subparagraph 1 shall apply to a party-fielded candidate to run in a presidential election, an election for proportional representative National Assembly members and an election for proportional representative local council members):
a. The current status of property that has been purchased or acquired in use of support payments and the contributions of the affiliated political party;
b. The details of revenue and expenditure that are entered in the accounting book pursuant to the provisions of Article 37(1).
(4) When the accounting report is made pursuant to the provisions of paragraphs (1) through (3), such accounting report shall be accompanied by the following documents: <Amended on Feb. 29, 2008; Feb. 29, 2012; Jun. 30, 2017>
1. The statement showing the revenue and expenditure of political funds;
2. The copies of receipts and evidential documents provided for in the provisions of the main clause of Article 39;
3. The copies of deposit bankbooks that are used to receive and disburse political funds;
4. The written audit opinion compiled by the internal audit office provided for in the main clause of Article 41(1) and the copy [limited to any political party (excluding any party election campaign office) and any person in charge of accounting of a supporters’ association] of the written examination resolution (including the disclosed data provided for in the provisions of Article 38(3)) of the representative organ (including any organ delegated by the representative organ) and the budget and settlement committee;
5. The written audit opinion compiled by a certified public accountant provided for in the proviso of Article 41(1) (limited to the Central Party and its supporters’ association); provided, this shall not apply where there is no record of revenue and expenditure of political funds;
6. The written transfer and takeover statement of residual property (limited to the person responsible for document custody transfer). In such cases, the written transfer and takeover statement of the refunded and compensated expenses provided for in the provisions of Article 58(1) shall be submitted within 30 days from the date on which the expenses are refunded and compensated;
7. The copy of the written detailed statement showing the disbursement of the election expenses of a preliminary candidate provided for in the provisions of Article 36(6) (limited to the person in charge of accounting of an election campaign office for a party-fielded candidate to run in a presidential election and a person in charge of accounting for a preliminary candidate to run in a presidential election).
(5) The person in charge of accounting of an election campaign office or election campaign liaison office shall, when he or she makes an accounting report, have the representative of the relevant political party, or a candidate to run in elections for public offices and the election campaign manager to jointly affix their signatures and seals to the accounting report; provided, in the case of an election campaign liaison office, the head of the election campaign liaison office shall affix his or her signature and seal to the accounting report.
(6) The accounting report and other necessary matters shall be prescribed by the Regulations of the National Election Commission.