Foreign contribution regulation: mandatory registration/prior permission, exclusive accounts, audited annual returns and bank reporting requirements. The Rules operationalise the Foreign Contribution (Regulation) Act, 2010 by defining key terms, prescribing electronic applications and Forms FC 1 to FC 10 for registration, prior permission, renewal and annual returns, requiring exclusive bank accounts for foreign contribution receipts, mandating separate audited accounts and six year record retention, obliging banks to report receipt transactions, specifying designation criteria for organisations of political or speculative nature, prescribing fees and timelines, and setting custodial, utilisation and enforcement procedures including suspension, cancellation and transfer restrictions.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Foreign contribution regulation: mandatory registration/prior permission, exclusive accounts, audited annual returns and bank reporting requirements.
The Rules operationalise the Foreign Contribution (Regulation) Act, 2010 by defining key terms, prescribing electronic applications and Forms FC 1 to FC 10 for registration, prior permission, renewal and annual returns, requiring exclusive bank accounts for foreign contribution receipts, mandating separate audited accounts and six year record retention, obliging banks to report receipt transactions, specifying designation criteria for organisations of political or speculative nature, prescribing fees and timelines, and setting custodial, utilisation and enforcement procedures including suspension, cancellation and transfer restrictions.
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