(Bloomberg) -- South Africa’s newly formed Change Starts Now party withdrew from elections scheduled to take place in May, citing the nation’s electoral laws.

Read More: Former FirstRand Chairman Jardine to Start South Africa Movement

South Africa’s top court this week dismissed a bid by political parties to scrap new legislation that requires a higher threshold of signatures for parties not represented in parliament. 

The laws impose barriers on new parties that face “a prejudicial logistical timetable to qualify for the ballot,” the party, led by former FirstRand Ltd. Chairman Roger Jardine, said in a statement on Thursday.

Change Starts Now plans to offer its support to parties with similar values, it said, without endorsing another party. More than 360 parties are eligible to compete in the election.

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