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Legislature passes bill regulating political donations.
(From China Post)
The Legislative Yuan yesterday hammered out a law stipulating that politicians, political groups and parties can only accept donations during specified campaign seasons.
The bill was swiftly passed ahead of Saturday's election, as both camps in the presidential race have come under criticism for accepting political donations.
Under the bill, individuals and parties will have to set up special accounts for political donations at financial institutions or postal offices and deposit all donations within 15 days.
Recipients should notify the Control Yuan - the government watchdog - of every donation.
An individual is allowed to donate up to NT$300,000 to a political party or group and NT$100,000 for a candidate in a year. A non-profit group can give a maximum NT$2 million to a party or group and NT$500,000 to a candidate. And a for-profit group can donate up to NT$3 million to a party or group and NT$1 million to a candidate.
The bill forbids donors from requesting illicit profits in exchange from a candidate or a party. Those who are found in breech of the new law will pay a fine of twice the amount of the donation, and the recipients will pay a fine of the same amount of the donation.
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