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New Zealand law explained for everyone

Electoral Act 1993

Loans - Disclosure of loans

214F: Return of party loan provided by same lender exceeding $30,000

You could also call this:

"Tell the Electoral Commission about big loans to your party that are over $30,000"

Illustration for Electoral Act 1993

If you are a party secretary, you must tell the Electoral Commission about loans over $30,000. You do this by filing a return with them. The return must have details like the lender's name and address, the loan amount, and when it must be paid back.

When a lender gives your party more than one loan, you must add up all the loan amounts. If the total is over $30,000, you must file a return with the Electoral Commission. The return must include details of all the loans and the total amount.

You must file the return within 10 working days of getting the loan. The Electoral Commission will tell you what form to use for the return. The return must include things like the interest rate, any unpaid balance, and the name and address of anyone who guaranteed the loan.

If you file a return for a loan, you do not need to include that loan when you work out if you need to file another return for a later loan. You must follow the rules to file the return correctly. You can find more information about the rules on the Electoral Amendment Act 2022 and the Electoral Amendment Act 2014.

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View the original legislation for this page at https://legislation.govt.nz/act/public/1986/0120/latest/link.aspx?id=DLM310369.

Topics:
Government and voting > Elections
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214E: Nil return: parties, or

"When a party has no loan information to share, they must tell us"

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214G: Offences relating to return of party loans, or

"Breaking the rules about reporting party loans can lead to big fines or worse."

Part 6BLoans
Disclosure of loans

214FReturn of party loan provided by same lender exceeding $30,000

  1. A party secretary must file with the Electoral Commission a return in respect of every loan entered into on behalf of the party that has a loan amount exceeding $30,000.

  2. A party secretary must file with the Electoral Commission a return in respect of every loan entered into on behalf of the party—

  3. that is provided by a lender who, in the 12 months immediately preceding the date on which the loan was entered into (the last 12 months), has provided 1 or more other loans to the party (previous loans); and
    1. that exceeds $30,000 when the amount of the loan is aggregated with the loan amounts of all the previous loans.

      1. If a return is made under subsection (2), the loans disclosed in that return must be disregarded when applying this section in relation to a loan that is entered into on behalf of the party after that return is filed.

      2. A return filed under subsection (1) must be in the form required by the Electoral Commission and must set out—

      3. the name of the lender; and
        1. the address of the lender; and
          1. the loan amount; and
            1. the date on which the loan was entered into; and
              1. the repayment date for the loan, or a statement that there is no repayment date; and
                1. the interest rate or rates; and
                  1. the unpaid balance of the loan amount, if any; and
                    1. the name and address of any guarantor of the loan; and
                      1. the details of any security given for the loan; and
                        1. whether there is any term of the loan agreement or arrangement that enables the lender to reduce or extinguish the loan amount or interest, or both, or grant any concession in respect of repayment of that amount or interest, or both.

                          1. A return filed under subsection (2) must be in the form required by the Electoral Commission and must set out—

                          2. the details specified in subsection (4) in respect of—
                            1. the loan; and
                              1. all previous loans; and
                              2. the total of the aggregated loan amount.

                                1. A return must be filed under subsection (1) or (2) within 10 working days of the loan being entered into by the party.

                                Notes
                                • Section 214F: inserted, on , by section 41 of the Electoral Amendment Act 2014 (2014 No 8).
                                • Section 214F heading: replaced, on , by section 16(1) of the Electoral Amendment Act 2022 (2022 No 80).
                                • Section 214F(1): amended, on , by section 16(2) of the Electoral Amendment Act 2022 (2022 No 80).
                                • Section 214F(2): amended, on , by section 16(3) of the Electoral Amendment Act 2022 (2022 No 80).
                                • Section 214F(3): amended, on , by section 16(4) of the Electoral Amendment Act 2022 (2022 No 80).