3. Eligibility for purchase and encashment of electoral bond.
(1)The Bond under this Scheme may be purchased by a person, who is a citizen of India or incorporated or established in India.(2)A person being an individual can buy bonds, either singly or jointly with other individuals.(3)Only the political parties registered under section 29A of the Representation of the People Act, 1951 (43 of 1951) and secured not less than one per cent of the votes polled in the last general election to the House of the People or the Legislative Assembly, as the case may be, shall be eligible to receive the bond.(4)The bond shall be encashed by an eligible political party only through a bank account with the authorised bank.
