Attorney-General Aiyaz Sayed-Khaiyum says the Political Parties Amendment Bill will allow the Registrar of Political Parties to access the election spending of political parties and compliance with other laws.
While making his contribution to pass the Bill to Amend the Political Parties Act in Parliament, Sayed-Khaiyum says under the amendment, political parties will also be required to report campaign expenditure following the elections.
The Attorney General says the Bill ensures that all political parties open bank accounts and provide the account details to the Registrar within 90 days of registration.
He says it will allow a political party to provide information on its source of funds to the Registrar within 90 days instead of the current 30 days after the end of its financial year.
Sayed-Khaiyum says the amendment also aims to enhance administrative records of political parties and the Registrar of Political Parties to ensure easy accessibility and transparency of the records.
The Minister for Economy says the amendment will ensure that the Registrar updates the register on an annual basis.
He says the amendment also clarifies that no political party will be registered from the time the writ for elections is issued and when the writ is returned.
Sayed-Khaiyum says this aligns to the amendment made by the Electoral Amendment Bill.
The bill has been passed in parliament.
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