Rule 24 - Procedure for transferring foreign contribution to any unregistered person. (Omitted) - Foreign Contribution (Regulation) Rules, 2011

4 [ **** ] ------------------ Notes:- 1. Substituted vide Notification No. GSR 292(E), dated 12-4-2012 , before it was read as:- Procedure for transferring foreign contribution to other registered or unregistered persons. 24. (1) Any person intending to transfer the foreign contribution may make an application to the Central Government in Form FC-10. (2) The Central Government may permit the transfer in respect of a person who has been granted the certificate of registration or prior permission under section 11 of the Act, in case the recipient person has not been proceeded against under any provision of the Act. (3) Any transfer of foreign contribution shall be reflected in the returns in Form FC-6 as well as in Form FC-10 by the transferor and the recipient. (4) In case the foreign contribution is proposed to be transferred to a person who has not been granted a certificate of registration or prior permission by the Central Government, the person concerned may apply for permission to the Central Government to transfer a part of the foreign contribution, not exceeding ten per cent, of the total value of the foreign contribution received. The application shall be countersigned by the District Magistrate having jurisdiction in the place where the transferred funds are sought to be utilised. The District Magistrate concerned shall take an appropriate decision in the matter within sixty days of the receipt of such request from the person. The donor shall not transfer any foreign contribution until the Central Government has approved the transfer. 2. Substituted vide G.S.R. 966(E) - Dated 14-12-2015 , before it was read as, FC-10. 3. Substituted vide G.S.R. 966(E) - Dated 14-12-2015 , before it was read as, FC-6 4. Omitted vide Notification No. G.S.R. 695(E) dated 10-11-2020 before it was read as 1 [ Procedure for transferring foreign contribution to any unregistered person. - 24. (1) A person who has been granted a certificate of registration or prior permission under section 11 and intends to transfer part of the foreign contribution received by him to a person who has not been granted a certificate of registration or prior permission under the Act, may transfer such foreign contribution to an extent not exceeding ten per cent of the total value thereof and for this purpose, make an application to the Central Government in Form 2 [FC-5] (2) Every application made under sub-rule (1) shall be accompanied by a declaration to the effect that ( a ) the amount proposed to be transferred during the financial year is less than ten per cent of the total value of the foreign contribution received by him during the financial year; ( b ) the transferor shall not transfer any amount of foreign contribution until the Central Government approves such transfer. (3) A person who has been granted a certificate of registration or prior permission under section 11 shall not be required to seek the prior approval of the Central Government for transferring the foreign contribution received by him to another person who has been granted a certificate of registration or prior permission under the Act provided that the recipient has not been proceeded against under any of the provisions of the Act. (4) Both the transferor and the recipient shall be responsible for ensuring proper utilisation of the foreign contribution so transferred and such transfer of foreign contribution shall be reflected in the returns in Form 3 [FC-4 ] to be submitted by both the transferor and the recipient.]