47. Do political parties have to report regularly on their finances?

Section 72(5)(b)(c)(d) of the Act defines that a candidate or a political party registered with the Commission that has received funds shall keep records of all transactions in respect of the bank account in terms of this Section, provide the Commission with a financial statement and report in the prescribed manner within a period of 6 monts after the declaration of the results of elections, and in respect of funds in terms of Section 71 of the Act, provide the Commission with a financial statement and report in the prescribed manner within a period of 3 months after the end of the financial year.