(1) An organization shall, if necessary for the purposes of this section, maintain a separate fund as a political fund.

(2) If an organization receives an amount from any of its members to be applied by way of political expenditure, the organization shall credit the amount to a political fund.

(3) If an organization receives any interest or other amount earned or derived from the investment of moneys standing to the credit of a political fund, the organization shall credit the interest or other amount to that political fund.

(4) An organization shall not credit any moneys to a political fund other than moneys referred to in subsection (2) or (3) and, in particular, shall not credit any moneys from a member's subscriptions to a political fund.

(5) An organization shall not make any payment by way of political expenditure except from moneys already standing to the credit of a political fund.

(6) If ¾

(a) an organization receives an amount from any of its members to be applied for political expenditure; and

(b) that amount is received subject to a direction from the member as to the political party or parties, or election candidate or election candidates, to or in respect of which or whom the organization may pay or apply the amount,

the organization shall not make any payment from moneys in a political fund derived from that amount if the payment would be contrary to that direction.

[Section 97P inserted by No. 79 of 1995 s.4; amended by No. 3 of 1997 s.15.]