Section 15 - Management of foreign contribution of person whose certificate has been cancelled. - Foreign Contribution (Regulation) Act, 2010

Management of foreign contribution of person whose certificate has been cancelled 1 [or surrendered]. 15 . ( 1 ) The foreign contribution and assets created out of the foreign contribution in the custody of every person whose certificate has been cancelled under section 14 2 [ or surrendered under section 14A ] shall vest in such authority as may be prescribed. ( 2 ) The authority referred to in sub-section ( 1 ) may, if it considers necessary and in public interest, manage the activities of the person referred to in that sub-section for such period and in such manner, as the Central Government may direct and such authority may utilise the foreign contribution or dispose of the assets created out of it in case adequate funds are not available for running such activity. (3) The authority referred to in sub-section ( 1 ) shall return the foreign contribution and the assets vested upon it under that sub-section to the person referred to in the said sub- section if such person is subsequently registered under this Act. ************* NOTES:- 1 . Inserted vide The Foreign Contribution (Regulation) Amendment Act, 2020 dated 28-09-2020 w.e.f. 29-09-2020 2 . Inserted vide The Foreign Contribution (Regulation) Amendment Act, 2020 dated 28-09-2020 w.e.f. 29-09-2020