https://www.taxtmi.com/acts?id=12686 Assets created out of foreign contribution must be disposed of when a permitted recipient ceases to exist or becomes defunct. Disposal is governed by the law under which the person was registered or incorporated. In the absence of such law, the Central Government may specify, by notification, the authority, manner and prescribed procedure for disposal, having regard to the nature of the assets. en-us Fri, 13 May 2011 19:02:22 +0530 Mon, 31 Aug 2026 12:31:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/acts?id=12686 Assets created out of foreign contribution must be disposed of when a permitted recipient ceases to exist or becomes defunct. Disposal is governed by the law under which the person was registered or incorporated. In the absence of such law, the Central Government may specify, by notification, the authority, manner and prescribed procedure for disposal, having regard to the nature of the assets. Act-Rules FEMA Fri, 13 May 2011 19:02:22 +0530 https://www.taxtmi.com/acts?id=12686