Section 8 - Restriction to utilize foreign contribution for administrative purpose. - Foreign Contribution (Regulation) Act, 2010

Restriction to utilize foreign contribution for administrative purpose. 8 .( 1 ) Every person, who is registered and granted a certificate or given prior permission under this Act and receives any foreign contribution,- ( a ) shall utilise such contribution for the purposes for which the contribution has been received: Provide d that any foreign contribution or any income arising out of it shall not be used for speculative business: Provide d further that the Central Governments shall, by rules, specify the activities or business which shall be construed as speculative business for the purpose of this section; ( b ) shall not defray as far as possible such sum, not exceeding 1 [ twenty per cent. ] of such contribution, received in a financial year, to meet administrative expenses: Provide d that administrative expenses exceeding 1 [ twenty per cent. ] of such contribution may be defrayed with prior approval of the Central Government. ( 2 ) The Central Government may prescribe the elements which shall be included in the administrative expenses and the manner in which the administrative expenses referred to in sub-section ( 1 ) shall be calculated. ************* NOTES:- 1 . Substituted vide The Foreign Contribution (Regulation) Amendment Act, 2020 dated 28-09-2020 w.e.f. 29-09-2020 before it was read as, fifty percent