49 OF [31st March, ] An Act to regulate the acceptance and utilisation of foreign contribution or foreign hospitality by certain persons or associations. It may be pertinent to point out here that it was the Congress, under the stewardship of Manmohan Singh, that replaced the original FCRA, Interestingly, the FCRA law deemed Indian companies as “foreign” if overseas residents held more than 50 per cent of the shareholding.
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Retrospective yes, but without really impacting any citizen or condoning any real wrong-doing. But its decision has drawn criticism from different quarters.
Essential Requirements A Fxra Account Open a separate bank account for the receipt and utilisation of foreign contribution in a bank of your choice and furnish particulars of the same at the appropriate place. New provisions have been made for suspension as well as cancellation of registration granted for violation of the provisions of the Act. Bishwajit Bhattacharyya, former additional solicitor general of India, said, “Parliament has every authority to amend laws retrospectively, but the context can be questioned in a court of law.
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New provision has also been made for management of foreign contribution and assets created out of such contribution of persons whose certificates have been cancelled. Consequently, the earlier Act, viz. Every person who has been granted registration or prior permission shall maintain a separate set of accounts and records, exclusively, for the foreign contribution received and utilised.
The right to freedom of association is incorporated under the International Covenant on Civil and Political Rights, to which India is a party. A number of NGOs receiving foreign funding are seen by the India’s central government as involved in anti-development activism and hence posing a negative impact on the economic growth by two to three per cent. It merely seeks to correct an anomaly,” said officials.
Foreign source means the government of any fcfa country or territory or its agency; international agency; a foreign company; citizen of a foreign country. The fcrs shall not transfer ffra foreign contribution until the Central Government has approved the transfer. Besides, the Central Government shall also display or upload the summary data of such persons on its website for information of the general public. The list is revealing: A new provision has been introduced to the effect that any person, who knowingly gives false intimation and seeks prior permission or registration by means of fraud, false representation or concealment of material fact, shall, on conviction by Court, would be liable to imprisonment for a term which may extend to six months or fine or with both.
Legal authorities say this is technically correct as the law was in force in those years. Swing time in stocks Business. Tax Incentives For Non-Residents.
Time to repeal the FCRA
Salient Features of the Rules Guidelines for declaration of an organisation to be of a political nature, not being a political party have been prescribed. 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.
An association granted prior permission or registration under the Act 11976 receive the foreign contribution and subsequently utilise it using a single designated bank account, as intimated in the application form.
An association having a definite cultural, economic, educational, religious or social programme can receive foreign contribution after it obtains the prior permission of the Central Government, or gets itself registered with the Central Government. Any organisation of a political nature and any association or company engaged in the production and broadcast of audio or audio visual news or current affairs programme have been placed in the category prohibited to accept foreign contribution.
Does all this mean that the FCRA should be repealed? The Indian state had no problem accepting contributions from foreign donors such as the World Bank or the International Monetary Fund. In case the certificate of registration is suspended under the relevant provisions the Act, up to twenty-five per cent of the unutilised amount may be spent, with the prior approval of the Central Government, for the declared aims and objects for which the foreign contribution was received.
Maintenance of Accounts An association granted prior permission or registration under the Act must maintain a separate set of accounts and records exclusively for the foreign contribution received and utilised in the prescribed manner.
Remember to enclose copies of the following documents with your application —. December 27, The fee for obtaining registration or prior permission would be Rs.
The Obama administration as well as the Trump administration pursued the case in the highest level amid the risk of a diplomatic tussle. Institutionalising double standards Put simply, a political class that has no 11976 taking money from foreign sources, that amended the FCRA to let itself off the hook for past violations, that opened the doors for all political parties to accept foreign funding, that paved the way for Indian businesses to access foreign capital, is now anxious to prevent CSOs from accessing foreign funds because some of them question its policies in a democratic battle to protect constitutional rights and entitlements.
Any move to condone an act that was in contravention of the old law would require an amendment, even though it has been repealed. Copy of certificate of registration issued under the Societies Registration Act, or Trust deed, as the case may be; Details fcar activities during the last three years; Copies of audited statement of accounts for the past three years Asset and Liabilities, Receipt and Payment, Income and Expenditure ; If any printed work is brought out by the association, a certificate from the Press Registrar that the publication is not a newspaper in terms of section 1 1 of the Press Registration of Books Act, Any person intending to transfer the foreign contribution may make an application to the Central Government in the prescribed Form.
The charge was led by the U.