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TMI BlogForeign Contribution (Regulation) Act, 2010 (42 of 2010),X X X X Extracts X X X X X X X X Extracts X X X X ..... commencing from the1st day of April and ending on the 31st day of March of the next calendar year; (2) Words and expressions used and not defined herein, but defined in the Act shall have the meaning assigned to them in the Act. 3. Guidelines for declaration of an organisation to be of a political nature, not being a political party. - The Central Government may specify any organisation as organisation of political nature on one or more of the following grounds:- (i) organisation having avowed political objectives in its Memorandum of Association or bylaws; (ii) any Trade Union whose objectives include activities for promoting political goals; (iii) any voluntary action group with objectives of a political nature or which comments upon or participates in political activities; (iv) front or mass organisations like Students Unions, Workers' Unions, Youth Forums and Women's wing of a political party; (v) organisation of farmers, workers, students, youth based on caste, community, religion, language or otherwise, which is not directly aligned to any political party, but whose objectives, as stated in the Memorandum of Association, or activities gathered through other material e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r that the expenses incurred directly in furtherance of the stated objectives of the welfare oriented organization shall be excluded from the administrative expenses such as salaries to doctors of hospital, salaries to teachers of school etc. 6. Intimation of receiving foreign contribution from relatives. - Any person receiving foreign contribution in excess of one lakh rupees or equivalent thereto in a financial year from any of his relatives shall inform the Central Government in Form FC-1 within thirty days from the date of receipt of such contribution. 7.Receiving foreign hospitality by specified categories of persons. - (1) Any person belonging to any of the categories specified in section 6 who wishes to avail of foreign hospitality shall apply to the Central Government in Form FC-2 for prior permission to accept such foreign hospitality. (2) Every application for acceptance of foreign hospitality shall be accompanied by an invitation letter from the host or the host country, as the case may be, and administrative clearance in case of visits sponsored by a Ministry of department of the Government. (3) The application for grant of permission to accept foreign hospitality ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to receive foreign contribution. - (1) (a) Any application under sub-section(1) of section11 for registration of a person for acceptance of foreign contribution shall be made electronically on-line in Form FC-3, and shall be followed by forwarding the hard copy of the on-line application duly signed by the Chief Functionary of the association together with the required documents. (b) The hard copy of the on-line application referred in clause (a) shall reach the Central Government within thirty days of the submission of the on-line application, failing which the request of the person shall be deemed to have ceased. (c) Any person whose request was ceased under clause (b) of sub-rule (1) may prefer a fresh on-line application with the Central Government only after six months from the date of cessation of the previous application. (d) A person seeking registration shall be required to open an exclusive bank account to receive foreign contribution. (e) The person may, however, open one or more accounts in one or more banks for the purpose of utilising the foreign contribution after it has been received and, in all such cases, intimation on plain paper shall be furnished to the S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct to the condition that the applicant furnishes the prescribed fees for such registration or prior permission, as the case may be. 10. Validity of Certificate. - Every certificate of registration granted to a person under the Act shall be valid for a period of five years from the date of its issue. 11. Renewal of registration certificate. - (1) Every certificate issued to a person shall be renewed after the expiry of five years from the date of its issue on proper application. (2) For renewal of certificate every person shall apply to the Central Government in Form FC-5, six months before the date of expiry of the certificate. (3) An application made for renewal of the certificate shall be accompanied by a fee of rupees five hundred only. (4) The fee for renewal of the certificate of registration shall be remitted by demand draft or banker's cheque in favour of the "Pay and Accounts Officer, Ministry of Home Affairs", payable at New Delhi. (5) In case no application for renewal of registration is received or such application is not accompanied by the requisite fee, the validity of the registration certificate of such person shall be deemed to have ceased from the date of co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of the certificate of registration. 14. Custody of foreign contribution in respect of person whose certificate has been cancelled. -(1) The amount of foreign contribution lying unutilised in the exclusive foreign contribution bank account of a person whose certificate of registration has been cancelled shall vest with the banking authority concerned till the Central Government issues further directions in the matter. (2) If a person whose certificate of registration has been cancelled transfers the foreign contribution to any other person, the clause (a) of rule 12 of these rules shall apply to the person to whom the fund has been transferred. (3) In case the person whose certificate has been cancelled or such person ceases to exist or has become defunct and that person is in possession of any moveable and immovable assets acquired with the foreign contribution, the same shall not be disposed of in any manner and interim custody of such assets shall vest in the District Magistrate concerned or any other office or authority of the Central Government that may be specified by an order of the Central Government and the period and the manner of such management of the activities of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gn contribution relates to foreign securities, the intimation shall be submitted in Form FC-8. (5) Every report submitted under sub-rules (2) to (4) shall be duly certified by a chartered accountant. (6) Every such return in Form FC-6 shall also be accompanied by a copy of a statement of account from the bank where the exclusive foreign contribution account is maintained by the person, duly certified by an officer of such bank. (7) A 'NIL' report shall be furnished even if no foreign contribution is received during a financial year. 17. Foreign contribution received by a candidate for election. - Foreign contribution received by a candidate for election, referred to in section 21, shall be furnished in Form FC-9 within forty-five days from the date on which he is duly nominated as a candidate for election. 18. Limit to which a judicial officer, not below the rank of an Assistant Sessions Judge may make adjudication or order confiscation. - An officer referred in clause (b) of sub-section (1) of section 29 may adjudge confiscation in relation to any article or currency seized under section 25, if the value of such article or the amount of such currency seized does not exceed t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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