For your nomination to be valid, the sum of £10,000 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, candidates or their agents 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 your nomination papers.
Unless the person making the deposit is your election agent and you have notified the GLRO of their appointment, the person making the deposit must at the time they make it give their name and address to the GLRO.3
After the election, the deposit will be returned if you poll more than 5% of the total number of votes polled by all Mayoral candidates in the election.4
Those candidates who have polled less than, or equal to, 5% of the total number of valid votes cast will lose their deposit.