Foreign contribution regulation is being tightened with new asset management, vesting, penalty, and investigation safeguards. The amendment proposes timelines for receipt and utilisation under prior permission, regulation of assets during suspension of registration, and a ... Summary
Foreign contribution regulation is being tightened with new asset management, vesting, penalty, and investigation safeguards.
The amendment proposes timelines for receipt and utilisation under prior permission, regulation of assets during suspension of registration, and a provision for cessation of certificate on expiry, non-renewal or refusal of renewal. It also inserts a new chapter for provisional and permanent vesting, supervision, management and disposal of foreign contribution and related assets through a designated authority, while rationalising penalties and requiring prior approval of the Central Government before initiation of investigation.
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