FCRA 1976 PDF

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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Chartered Accountants, before certifying the accounts of an association in form FC — 3, must ensure that they have been prepared in accordance with the provisions of the Foreign Contribution Regulation Act, and the Rules framed thereunder. Essential Requirements A Bank 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. The focus of this Act is to ensure that the foreign contribution and foreign hospitality is not utilized to fca or influence 1796 politics, public servants, judges and other people working the important areas of national life like journalists, printers and publishers of newspapers, etc.

What is Foreign Contribution Foreign contribution means the donation, delivery or transfer, made by any foreign source of any, Article, not given to a person as a gifitfor personal use, if the market value, in India, of such article exceeds one thousand rupees; Currency, whether Indian or foreign; or, Foreign security as defined in clause 2 i of the Foreign Exchange Regulation Act, But why the new law? Forms Prescribed for this Purpose An application for seeking prior permission to accept foreign contribution is to be made in Form FC — 1A and for grant of registration in Form FC — 8 respectively.

Salient Features of FCRA, Comes into Effect from May 1,

An application for registration is normally disposed within six months. Put simply, a political class that has no qualms 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 fcda question its policies in a democratic battle to protect constitutional rights and entitlements.

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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. This article fcrq need to be rewritten entirely to comply with Wikipedia’s quality standards.

It may be pertinent to point out here that it was the Congress, under the stewardship of Manmohan Singh, that replaced the original FCRA,with a more draconian version in 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.

It shall be accompanied by a fee of Rs. Nor did it do so against the Congress, which, as the leading Opposition party, did not think it appropriate to protest this flagrant flouting of a judicial directive. Institutionalising double standards Put simply, a political class that has no qualms 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.

11976

The ostensible justification given for the law was to curb foreign interference in domestic politics. That necessitated 11976 first amendment, which was achieved by tweaking the Finance Bill for 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. One may recall that earlier this year, 11, NGOs lost their FCRA licences without the government having to either examine their records or suspend their fcea individually — their licences simply expired as the deadline for renewal passed.

This page was last edited on 19 Novemberat Officials said other firms, which were Indian subsidiaries of global giants, had also made donations to political parties and these would have attracted fcrw test of being illegal, if the amendment had not been brought.

The Central Bureau of Investigation or any other Government investigating agency that conducts any investigation under the Act shall furnish reports to the Central Government, on a quarterly basis, indicating the status of each case that was entrusted to it, including information regarding the case number, date of registration, date of filing charge sheet, court before which it has been filed, progress of trial, date of judgment and the conclusion of each case. Access to resources, particularly foreign funding, is part of the right to freedom of association.

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Ultimately courts can strike down such amendments.

political donations and the ghost of fcra

However, such organizations which are newly established and do not have proven track record of functioning may also receive foreign contribution for specific activities, for a specific purpose and from a specific source after seeking project based prior permission PP from the Ministry of Home Affairs.

Sampath December 27, Besides, given that the right to freedom of association is part of the Universal Declaration of Human Rights article 20a violation of this right also constitutes a human rights violation.

If the foreign contribution relates to fcrra or foreign securities, the intimation shall be submitted in the prescribed Forms.

To tide itself over this problem, the government was forced to do something that it promised not to do: No funds other than foreign contribution shall be deposited in the FC account to fcea separately maintained by the associations etc. Despite the censure, the NDA ffcra has shown no signs of relenting. The right to freedom of association is incorporated under the International Covenant on Civil and Political Rights, to which India is a party.

A judgment by the Delhi high court in held that both the Bharatiya Janata Party and the Congress were guilty of receiving donations to their party funds from the Indian subsidiaries of a “foreign” company, in contravention of the FCRA Act.

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The application shall be countersigned by the District Magistrate having jurisdiction in the place where the transferred funds are sought to be utilised. In the cash book and ledger account on double entry basis, where the FC relates to currency received and utilised. Does all this mean that the FCRA should vcra repealed?