For the nomination to be valid, the sum of £5,000 must be deposited with the Greater London Returning Officer (GLRO) by the deadline for the delivery of nominations by 4pm on the twenty-fourth working day before the poll.1
The deposit can be made using:2
a UK banker’s draft
legal tender (cash in British pounds only). Payments made by cash will be subject to money laundering checks
The GLRO will also accept a deposit made by electronic funds transfer, which is preferred for security reasons, and will advise you of the bank account in which the funds should be deposited. The GLRO does not intend to accept payment of deposits by cheque, debit or credit card.
Where payment is made by electronic transfer, you are responsible for ensuring cleared funds are received by the GLRO by the deadline for the delivery of nominations, 4pm on the twenty-fourth working day before the poll. This deadline is set out in law and cannot be changed for any reason. You are strongly advised to have made the deposit by the time that you submit the nomination papers.
After the election, the deposit will be returned if the party polls more than 2.5% of the valid votes cast across London in the London-wide Assembly Member election.3
Any party that polls less than, or equal to, 2.5% of the total number of the valid votes cast will lose their deposit.
The deposit is £5,000 regardless of how many names are on the nomination form.