Search Results on rules for query: "Foreign Contribution (Regulation) Rules 2011"
Related Section(s) (1) The Central Government may, by notification, make rules for
carrying out the provisions of this Act.
(2) In particular, and without prejudice to the generality of the foregoing power, such rules may provide for all or any of the following matters, namely:-- (a) the value of the article which may be specified under sub-clause (i) of clause (h) of sub-section (1) of section 2; (b) the authority which may be specified under clause (p) of sub-section (1) of section 2; (c) acceptance or retention of gift or presentation under clause (d) of section 4; (d) guidelines specifying the ground or grounds on which an organisation may be specified as an organisation of political nature under sub-section (1) of section 5; (e) the activities or business which shall be construed as speculative business under the proviso to clause (a) of sub-section (1) of section 8; (f) the elements and the manner in which the administrative expenses shall be calculated under sub-section (2) of section 8; (g) the time within which and the manner in which any person or class of persons or an association may be required to furnish intimation regarding the amount of foreign contribution received under clause (c) of section 9; (h) the time within which and the manner in which any person or class of persons may be required to furnish intimation regarding foreign hospitality under clause (e) of section 9; (i) the manner in which the copy of the order of the Central Government shall be served upon any person under section 10; (j) the form and manner in which the application for grant of certificate of registration or giving of prior permission under sub-section (1) of section 12; (k) the fee to be accompanied by the application under sub-section (1) of section 12; (l) the terms and conditions for granting a certificate or giving prior permission under clause (g) of sub-section (4) of section 12; (m) the manner of utilising the foreign contribution under clause (b) of sub-section (2) of section 13; (n) the authority with whom the foreign contribution to be vested under sub-section (1) of section 15; (o) the period within which and the manner in which the foreign contribution shall be managed under sub-section (2) of section 15; (p) the form and manner in which the application for a renewal of certificate of registration shall be made under sub-section (2) of section 16; (q) the fee to be accompanied by the application for renewal of certificate under sub-section (2) of section 16; (r) the prescribed amount of foreign remittance, the form and manner in which the foreign remittance received by every bank or authorised person in foreign exchange shall be reported under sub-section (2) of section 17; (s) the time within which and the manner in which the person who has been granted certificate of registration or given prior permission under this Act shall give intimation under section 18; (t) the form and manner in which account of any foreign contribution and the manner in which such contribution has been utilised shall be maintained under section 19; (u) the time within which and the manner in which a candidate for election shall give intimation under section 21; (v) the manner and procedure to be followed in disposing of the assets under section 22; (w) the limits subject to which any confiscation may be adjudged under clause (b) of sub-section (1) of section 29; (x) the fee to be accompanied along with every application for revision under sub-section (5) of section 32; (y) the form and manner for making of an application for compounding of an offence and the fee therefor under sub-section (4) of section 41; (z) the form and manner in which and the time within which returns and statements to be furnished by the prescribed authority under section 44; (za) any other matter which is required to be, or may be, prescribed. (1) The Central Government may, either of its
own motion or on an application for revision by the person registered under this Act, call for and examine
the record of any proceeding under this Act in which any such order has been passed by it and may make
such inquiry or cause such inquiry to be made and, subject to the provisions of this Act, may pass such
order thereon as it thinks fit.
(2) The Central Government shall not of its own motion revise any order under this section if the order has been made more than one year previously. (3) In the case of an application for revision under this section by the person referred to in sub-section (1), the application must be made within one year from the date on which the order in question was communicated to him or the date on which he otherwise came to know of it, whichever is earlier: Provided that the Central Government may, if it is satisfied that such person was prevented by sufficient cause from making the application within that period, admit an application made after the expiry of that period. (4) The Central Government shall not revise any order where an appeal against the order lies but has not been made and the time within which such appeal may be made has not expired or such person has not waived his right of appeal or an appeal has been filed under this Act. (5) Every application by such person for revision under this section shall be accompanied by such fee, as may be prescribed. Explanation.—An order by the Central Government declining to interfere shall, for the purposes of this section, be deemed not to be an order prejudicial to such person. Nothing contained in section 3 shall apply to the
acceptance, by any person specified in that section, of any foreign contribution where such contribution is
accepted by him, subject to the provisions of section 10,—
(a) by way of salary, wages or other remuneration due to him or to any group of persons working under him, from any foreign source or by way of payment in the ordinary course of business transacted in India by such foreign source; or (b) by way of payment, in the course of international trade or commerce, or in the ordinary course of business transacted by him outside India; or (c) as an agent of a foreign source in relation to any transaction made by such foreign source with the Central Government or State Government; or (d) by way of a gift or presentation made to him as a member of any Indian delegation, provided that such gift or present was accepted in accordance with the rules made by the Central Government with regard to the acceptance or retention of such gift or presentation; or (e) from his relative; or (f) by way of remittance received, in the ordinary course of business through any official channel, post office, or any authorised person in foreign exchange under the Foreign Exchange Management Act, 1999 (42 of 1999); or (g) by way of any scholarship, stipend or any payment of like nature: Provided that in case any foreign contribution received by any person specified under section 3, for any of the purposes other than those specified under this section, such contribution shall be deemed to have been accepted in contravention of the provisions of section 3. (1) The Central Government may,
having regard to the activities of the organisation or the ideology propagated by the organisation or the
programme of the organisation or the association of the organisations with the activities of any political
party, by an order published in the Official Gazette, specify such organisation as an organisation of a
political nature not being a political party, referred to in clause (f) of sub-section (1) of section 3:
Provided that the Central Government may, by rules made by it, frame the guidelines specifying the ground or grounds on which an organisation shall be specified as an organisation of a political nature. (2) Before making an order under sub-section (1), the Central Government shall give the organisation in respect of whom the order is proposed to be made, a notice in writing informing it of the ground or grounds, on which it is proposed to be specified as an organisation of political nature under that sub-section. (3) The organisation to whom a notice has been served under sub-section (2), may, within a period of thirty days from the date of the notice, make a representation to the Central Government giving reasons for not specifying such organisation as an organisation under sub-section (1): Provided that the Central Government may entertain the representation after the expiry of the said period of thirty days, if it is satisfied that the organisation was prevented by sufficient cause from making the representation within thirty days. (4) The Central Government may, if it considers it appropriate, forward the representation referred to in sub-section (3) to any authority to report on such representation. (5) The Central Government may, after considering the representation and the report of the authority referred to in sub-section (4), specify such organisation as an organisation of a political nature not being a political party and make an order under sub-section (1) accordingly. (6) Every order under sub-section (1) shall be made within a period of one hundred and twenty days from the date of issue of notice under sub-section (2): Provided that in case no order is made within the said period of one hundred and twenty days, the Central Government shall, after recording the reasons therefor, make an order under sub-section (1) within a period of sixty days from the expiry of the said period of one hundred and twenty days. (1) An application by a person, referred to in section 11
for grant of certificate or giving prior permission, shall be made to the Central Government in such form
and manner and along with such fee, as may be prescribed.
2[(1A) Every person who makes an application under sub-section (1) shall be required to open "FCRA Account" in the manner specified in section 17 and mention details of such account in his application.] (2) On receipt of an application under sub-section (1), the Central Government shall, by an order, if the application is not in the prescribed form or does not contain any of the particulars specified in that form, reject the application. (3) If on receipt of an application for grant of certificate or giving prior permission and after making such inquiry as the Central Government deems fit, it is of the opinion that the conditions specified in sub-section (4) are satisfied, it may, ordinarily within ninety days from the date of receipt of application under sub-section (1), register such person and grant him a certificate or give him prior permission, as the case may be, subject to such terms and conditions as may be prescribed: Provided that in case the Central Government does not grant, within the said period of ninety days, a certificate or give prior permission, it shall communicate the reasons therefor to the applicant: Provided further that a person shall not be eligible for grant of certificate or giving prior permission, if his certificate has been suspended and such suspension of certificate continues on the date of making application. (4) The following shall be the conditions for the purposes of sub-section (3), namely: (a) the person making an application for registration or grant of prior permission under sub-section (1), (i) is not fictitious or benami; (ii) has not been prosecuted or convicted for indulging in activities aimed at conversion through inducement or force, either directly or indirectly, from one religious faith to another; (iii) has not been prosecuted or convicted for creating communal tension or disharmony in any specified district or any other part of the country; (iv) has not been found guilty of diversion or mis-utilisation of its funds; (v) is not engaged or likely to engage in propagation of sedition or advocate violent methods to achieve its ends; (vi) is not likely to use the foreign contribution for personal gains or divert it for undesirable purposes; (vii) has not contravened any of the provisions of this Act; (viii) has not been prohibited from accepting foreign contribution; (b) the person making an application for registration under sub-section (1) has undertaken reasonable activity in its chosen field for the benefit of the society for which the foreign contribution is proposed to be utilised; (c) the person making an application for giving prior permission under sub-section (1) has prepared a reasonable project for the benefit of the society for which the foreign contribution is proposed to be utilised; (d) in case the person being an individual, such individual has neither been convicted under any law for the time being in force nor any prosecution for any offence pending against him; (e) in case the person being other than an individual, any of its directors or office bearers has neither been convicted under any law for the time being in force nor any prosecution for any offence is pending against him; (f) the acceptance of foreign contribution by the person referred to in sub-section (1) is not likely to affect prejudicially (i) the sovereignty and integrity of India; or (ii) the security, strategic, scientific or economic interest of the State; or (iii) the public interest; or (iv) freedom or fairness of election to any Legislature; or (v) friendly relation with any foreign State; or (vi) harmony between religious, racial, social, linguistic, regional groups, castes or communities; (g) the acceptance of foreign contribution referred to in sub-section (1),-- (i) shall not lead to incitement of an offence; (ii) shall not endanger the life or physical safety of any person. (5) Where the Central Government refuses the grant of certificate or does not give prior permission, it shall record in its order the reasons therefor and furnish a copy thereof to the applicant: Provided that the Central Government may not communicate the reasons for refusal for grant of certificate or for not giving prior permission to the applicant under this section in cases where there is no obligation to give any information or documents or records or papers under the Right to Information Act, 2005 (22 of 2005). (6) The certificate granted under sub-section (3) shall be valid for a period of five years and the prior permission shall be valid for the specific purpose or specific amount of foreign contribution proposed to be received, as the case may be.
1. Ins. by s. 6, ibid. (w.e.f. 29-9-2020).
Where the
Central Government is satisfied, after making such inquiry as it may deem fit, that any person has in his
custody or control any article or currency or security, whether Indian or foreign, which has been accepted
by such person in contravention of any of the provisions of this Act, it may, by order in writing, prohibit
such person from paying, delivering, transferring or otherwise dealing with, in any manner whatsoever,
such article or currency or security save in accordance with the written orders of the Central Government
and a copy of such order shall be served upon the person so prohibited in the prescribed manner, and
thereupon the provisions of sub-sections (2), (3), (4) and (5) of section 7 of the Unlawful Activities
(Prevention) Act, 1967 (37 of 1967) shall, so far as may be, apply to, or in relation to, such article or
currency or security and references in the said sub-sections to moneys, securities or credits shall be
construed as references to such article or currency or security.
Every candidate for election, who had received any
foreign contribution, at any time within one hundred and eighty days immediately preceding the date on
which he is duly nominated as such candidate, shall give, within such time and in such manner as may be
prescribed, an intimation to the Central Government or prescribed authority or both as to the amount of
foreign contribution received by him, the source from which, and the manner in which, such foreign
contribution was received and the purposes for which and the manner in which such foreign contribution
was utilised by him.
(1) Any confiscation referred to in section 28 may be
adjudged—
(a) without limit, by the Court of Session within the local limits of whose jurisdiction the seizure was made; and (b) subject to such limits as may be prescribed, by such officer, not below the rank of an Assistant Sessions Judge, as the Central Government may, by notification in the Official Gazette, specify in this behalf. (2) When an adjudication under sub-section (1) is concluded by the Court of Session or Assistant Sessions Judge, as the case may be, the Sessions Judge or Assistant Sessions Judge may make such order as he thinks fit for the disposal by confiscation or delivery of seized article or currency or security, as the case may be, to any person claiming to be entitled to possession thereof or otherwise, or which has been used for the commission of any offence under this Act. (1) Every person who has been granted a certificate or given prior approval under
this Act shall give, within such time and in such manner as may be prescribed, an intimation to the
Central Government, and such other authority as may be specified by the Central Government, as to the
amount of each foreign contribution received by it, the source from which and the manner in which such
foreign contribution was received, and the purposes for which, and the manner in which such foreign
contribution was utilised by him.
(2) Every person receiving foreign contribution shall submit a copy of a statement indicating therein the particulars of foreign contribution received duly certified by officer of the bank or authorised person in foreign exchange and furnish the same to the Central Government along with the intimation under sub-section (1). Every person who has been granted a certificate or given prior
approval under this Act shall maintain, in such form and manner as may be prescribed,
(a) an account of any foreign contribution received by him; and (b) a record as to the manner in which such contribution has been utilised by him. (1) Notwithstanding anything contained in the Code of
Criminal Procedure, 1973 (2 of 1974), any offence punishable under this Act (whether committed by an
individual or association or any officer or employee thereof), not being an offence punishable with
imprisonment only, may, before the institution of any prosecution, be compounded by such officers or
authorities and for such sums as the Central Government may, by notification in the Official Gazette,
specify in this behalf.
(2) Nothing in sub-section (1) shall apply to an offence committed by an individual or association or its officer or other employee within a period of three years from the date on which a similar offence committed by it or him was compounded under this section. Explanation.—For the purposes of this section, any second or subsequent offence committed after the expiry of a period of three years from the date on which the offence was previously compounded, shall be deemed to be a first offence. (3) Every officer or authority referred to in sub-section (1) shall exercise the powers to compound an offence, subject to the direction, control and supervision of the Central Government. (4) Every application for the compounding of an offence shall be made to the officer or authority referred to in sub-section (1) in such form and manner along with such fee as may be prescribed. (5) Where any offence is compounded before the institution of any prosecution, no prosecution shall be instituted in relation to such offence, against the offender in relation to whom the offence is so compounded. (6) Every officer or authority referred to in sub-section (1), while dealing with a proposal for the compounding of an offence for a default in compliance with any provision of this Act which requires by an individual or association or its officer or other employee to obtain permission or file or register with, or deliver or send to, the Central Government or any prescribed authority any return, account or other document, may, direct, by order, if he or it thinks fit to do so, any individual or association or its officer or other employee to file or register with, such return, account or other document within such time as may be specified in the order. (1) Every person, who
is registered and granted a certificate or given prior permission under this Act and receives any foreign
contribution,--
(a) shall utilise such contribution for the purposes for which the contribution has been received: Provided that any foreign contribution or any income arising out of it shall not be used for speculative business: Provided further that the Central Government shall, by rules, specify the activities or business which shall be construed as speculative business for the purpose of this section; (b) shall not defray as far as possible such sum, not exceeding 1[twenty per cent.] of such contribution, received in a financial year, to meet administrative expenses: Provided that administrative expenses exceeding 1[twenty per cent.] of such contribution may be defrayed with prior approval of the Central Government. (2) The Central Government may prescribe the elements which shall be included in the administrative expenses and the manner in which the administrative expenses referred to in sub-section (1) shall be calculated.
2. Subs. by s. 4, ibid., for "fifty per cent." (w.e.f. 29-9-2020).
(1) Save as otherwise provided in
this Act, no person having a definite cultural, economic, educational, religious or social programme shall
accept foreign contribution unless such person obtains a certificate of registration from the Central
Government:
Provided that any association registered with the Central Government under section 6 or granted prior permission under that section of the Foreign Contribution (Regulation) Act, 1976 (49 of 1976), as it stood immediately before the commencement of this Act, shall be deemed to have been registered or granted prior permission, as the case may be, under this Act and such registration shall be valid for a period of five years from the date on which this section comes into force. (2) Every person referred to in sub-section (1) may, if it is not registered with the Central Government under that sub-section, accept any foreign contribution only after obtaining the prior permission of the Central Government and such prior permission shall be valid for the specific purpose for which it is obtained and from the specific source: 1[Provided that the Central Government, on the basis of any information or report, and after holding a summary inquiry, has reason to believe that a person who has been granted prior permission has contravened any of the provisions of this Act, it may, pending any further inquiry, direct that such person shall not utilise the unutilised foreign contribution or receive the remaining portion of foreign contribution which has not been received or, as the case may be, any additional foreign contribution, without prior approval of the Central Government: Provided further that if the person referred to in sub-section (1) or in this sub-section has been found guilty] of violation of any of the provisions of this Act or the Foreign Contribution (Regulation) Act, 1976 (49 of 1976), the unutilised or unreceived amount of foreign contribution shall not be utilised or received, as the case may be, without the prior approval of the Central Government. (3) Notwithstanding anything contained in this Act, the Central Government may, by notification in the Official Gazette, specify (i) the person or class of persons who shall obtain its prior permission before accepting the foreign contribution; or (ii) the area or areas in which the foreign contribution shall be accepted and utilised with the prior permission of the Central Government; or (iii) the purpose or purposes for which the foreign contribution shall be utilised with the prior permission of the Central Government; or/ (iv) the source or sources from which the foreign contribution shall be accepted with the prior permission of the Central Government.
1. Subs. by Act 33 of 2020, s. 5, for certain words (w.e.f. 29-9-2020).
(1) Where the Central Government, for reasons to be recorded in
writing, is satisfied that pending consideration of the question of cancelling the certificate on any of the
grounds mentioned in sub-section (1) of section 14, it is necessary so to do, it may, by order in writing,
suspend the certificate 1[for a period of one hundred and eighty days, or such further period, not
exceeding one hundred and eighty days, as may be specified] in the order.
(2) Every person whose certificate has been suspended shall-- (a) not receive any foreign contribution during the period of suspension of certificate: Provided that the Central Government, on an application made by such person, if it considers appropriate, allow receipt of any foreign contribution by such person on such terms and conditions as it may specify; (b) utilise, in the prescribed manner, the foreign contribution in his custody with the prior approval of the Central Government.
1. Subs. by s. 8, ibid., for "for such period not exceeding one hundred and eighty days as may be specified" (w.e.f. 29-9-2020).
(1) The foreign contribution and assets created out of the foreign contribution in the
custody of every person whose certificate has been cancelled under section 14 1[or surrendered under
section 14A] shall vest in such authority as may be prescribed.
(2) The authority referred to in sub-section (1) may, if it considers necessary and in public interest, manage the activities of the person referred to in that sub-section for such period and in such manner, as the Central Government may direct and such authority may utilise the foreign contribution or dispose of the assets created out of it in case adequate funds are not available for running such activity. (3) The authority referred to in sub-section (1) shall return the foreign contribution and the assets vested upon it under that sub-section to the person referred to in the said sub-section if such person is subsequently registered under this Act.
1. Ins. by s. 10, ibid. (w.e.f. 29-9-2020).
(1) Every person who has been granted a certificate under section 12
shall have such certificate renewed within six months before the expiry of the period of the certificate.
1[Provided that the Central Government may, before renewing the certificate, make such inquiry, as it deems fit, to satisfy itself that such person has fulfilled all conditions specified in sub-section (4) of section 12.] (2) The application for renewal of the certificate shall be made to the Central Government in such form and manner and accompanied by such fee as may be prescribed. (3) The Central Government shall renew the certificate, ordinarily within ninety days from the date of receipt of application for renewal of certificate subject to such terms and conditions as it may deem fit and grant a certificate of renewal for a period of five years: Provided that in case the Central Government does not renew the certificate within the said period of ninety days, it shall communicate the reasons therefor to the applicant: Provided further that the Central Government may refuse to renew the certificate in case where a person has violated any of the provisions of this Act or rules made thereunder.
1. The proviso ins. by s. 11, ibid. (w.e.f 29-9-2020).
1[17. Foreign contribution through scheduled bank.--(1) Every person who has been granted
certificate or prior permission under section 12 shall receive foreign contribution only in an account
designated as "FCRA Account" by the bank, which shall be opened by him for the purpose of remittances
of foreign contribution in such branch of the State Bank of India at New Delhi, as the Central
Government may, by notification, specify in this behalf:
Provided that such person may also open another"FCRA Account" in any of the scheduled bank of his choice for the purpose of keeping or utilising the foreign contribution which has been received from his "FCRA Account" in the specified branch of State Bank of India at New Delhi: Provided further that such person may also open one or more accounts in one or more scheduled banks of his choice to which he may transfer for utilising any foreign contribution received by him in his "FCRA Account" in the specified branch of the State Bank of India at New Delhi or kept by him in another "FCRA Account" in a scheduled bank of his choice: Provided also that no funds other than foreign contribution shall be received or deposited in any such account. (2) The specified branch of the State Bank of India at New Delhi or the branch of the scheduled bank where the person referred to in sub-section (1) has opened his foreign contribution account or the authorised person in foreign exchange, shall report to such authority as may be specified-- (a) the prescribed amount of foreign remittance; (b) the source and manner in which the foreign remittance was received; and (c) other particulars, in such form and manner as may be prescribed.]
1. Subs. by Act 33 of 2020, s. 12, for section 17 (w.e.f. 29-9-2020).
(1) In this Act, unless the context otherwise requires,--
(a) "association" means an association of individuals, whether incorporated or not, having an office in India and includes a society, whether registered under the Societies Registration Act, 1860 (21 of 1860), or not, and any other organisation, by whatever name called; (b) "authorised person in foreign exchange" means an authorised person referred to in clause (c) of section 2 of the Foreign Exchange Management Act, 1999 (42 of 1999); (c) "bank" means a banking company as referred to in clause (c) of section 5 of the Banking Regulation Act, 1949 (10 of 1949); (d) "candidate for election" means a person who has been duly nominated as a candidate for election to any Legislature; (e) "certificate" means certificate of registration granted under sub-section (3) of section 12; (f) "company" shall have the meaning assigned to it under clause (17) of section 2 of the Income-tax Act, 1961 (43 of 1961); (g) "foreign company" means any company or association or body of individuals incorporated outside India and includes-- (i) a foreign company within the meaning of section 591 of the Companies Act, 1956 (1 of 1956); (ii) a company which is a subsidiary of a foreign company; (iii) the registered office or principal place of business of a foreign company referred to in sub-clause (i) or company referred to in sub-clause (ii); (iv) a multi-national corporation. Explanation. "For the purposes of this sub-clause, a corporation incorporated in a foreign country or territory shall be deemed to be a multi-national corporation if such corporation," (a) has a subsidiary or a branch or a place of business in two or more countries or territories; or (b) carries on business, or otherwise operates, in two or more countries or territories; (h) "foreign contribution" means the donation, delivery or transfer made by any foreign source, (i) of any article, not being an article given to a person as a gift for his personal use, if the market value, in India, of such article, on the date of such gift, is not more than such sum as may be specified from time to time, by the Central Government by the rules made by it in this behalf; (ii) of any currency, whether Indian or foreign; (iii) of any security as defined in clause (h) of section 2 of the Securities Contracts (Regulation) Act, 1956 (42 of 1956) and includes any foreign security as defined in clause (o) of section 2 of` the Foreign Exchange Management Act, 1999 (42 of 1999). Explanation 1.--A donation, delivery or transfer of any article, currency or foreign security referred to in this clause by any person who has received it from any foreign source, either directly or through one or more persons, shall also be deemed to be foreign contribution within the meaning of this clause. Explanation 2.--The interest accrued on the foreign contribution deposited in any bank referred to in sub-section (1) of section 17 or any other income derived from the foreign contribution or interest thereon shall also be deemed to be foreign contribution within the meaning of this clause. Explanation 3.--Any amount received, by any person from any foreign source in India, by way of fee (including fees charged by an educational institution in India from foreign student) or towards cost in lieu of goods or services rendered by such person in the ordinary course of his business, trade or commerce whether within India or outside India or any contribution received from an agent of a foreign source towards such fee or cost shall be excluded from the definition of foreign contribution within the meaning of this clause; (i) "foreign hospitality" means any offer, not being a purely casual one, made in cash or kind by a foreign source for providing a person with the costs of travel to any foreign country or territory or with free boarding, lodging, transport or medical treatment; (j) "foreign source" includes,-- (i) the Government of any foreign country or territory and any agency of such Government; (ii) any international agency, not being the United Nations or any of its specialised agencies, the World Bank, International Monetary Fund or such other agency as the Central Government may, by notification, specify in this behalf; (iii) a foreign company; (iv) a corporation, not being a foreign company, incorporated in a foreign country or territory; (v) a multi-national corporation referred to in sub-clause (iv) of clause (g); (vi) a company within the meaning of the Companies Act, 1956 (1 of 1956), and more than one-half of the nominal value of its share capital is held, either singly or in the aggregate, by one or more of the following, namely:-- (A) the Government of a foreign country or territory; (B) the citizens of a foreign country or territory; (C) corporations incorporated in a foreign country or territory; (D) trusts, societies or other associations of individuals (whether incorporated or not), formed or registered in a foreign country or territory; (E) foreign company; 1[Provided that where the nominal value of share capital is within the limits specified for foreign investment under the Foreign Exchange Management Act, 1999 (42 of 1999), or the rules or regulations made thereunder, then, notwithstanding the nominal value of share capital of a company being more than one-half of such value at the time of making the contribution, such company shall not be a foreign source;] (vii) a trade union in any foreign country or territory, whether or not registered in such foreign country or territory; (viii) a foreign trust or a foreign foundation, by whatever name called, or such trust or foundation mainly financed by a foreign country or territory; (ix) a society, club or other association of individuals formed or registered outside India; (x) a citizen of a foreign country; (k) "Legislature" means-- (A) either House of Parliament; (B) the Legislative Assembly of a State, or in the case of a State having a Legislative Council, either House of the Legislature of that State; (C) Legislative Assembly of a Union territory constituted under the Government of Union Territories Act, 1963 (20 of 1963); (D) Legislative Assembly for the National Capital Territory of Delhi referred to in the Government of National Capital Territory of Delhi Act, 1991 (1 of 1992); (E) Municipality as defined in clause (e) of article 243P of the Constitution; (F) District Councils and Regional Councils in the States of Assam, Meghalaya, Tripura and Mizoram as provided in the Sixth Schedule to the Constitution; (G) Panchayat as defined in clause (d) of article 243 of the Constitution; or (H) any other elective body as may be notified by the Central Government; (l) "notification" means notification published in the Official Gazette and the expression "notify" shall be construed accordingly; (m) "person" includes-- (i) an individual; (ii) a Hindu undivided family; (iii) an association; (iv) a company registered under section 25 of the Companies Act, 1956 (1 of 1956); (n) "political party" means-- (i) an association or body of individual citizens of India-- (A) to be registered with the Election Commission of India as a political party under section 29A of the Representation of the People Act, 1951 (43 of 1951); or (B) which has set up candidates for election to any Legislature, but is not so registered or deemed to be registered under the Election Symbols (Reservation and Allotment) Order, 1968; (ii) a political party mentioned in column 2 of Table 1 and Table 2 to the notification of the Election Commission of India No. 56/J&K/02, dated the 8th August, 2002, as in force for the time being; (o) "prescribed" means prescribed by rules made under this Act; (p) "prescribed authority" means an authority specified as such by rules made by the Central Government under this Act; (q) "registered newspaper" means a newspaper registered under the Press and Registration of Books Act, 1867 (25 of 1867); (r) "relative" has the meaning assigned to it in clause (41) of section 2 of the Companies Act, 1956 (1 of 1956); (s) "scheduled bank" shall have the meaning assigned to it under clause (e) of section 2 of the Reserve Bank of India Act, 1934 (2 of 1934); (t) "subsidiary" and "associate" shall have the meanings, respectively assigned to them in the Companies Act, 1956 (1 of 1956); (u) "trade union" means a trade union registered under the Trade Unions Act, 1926 (16 of 1926); (2) Words and expressions used herein and not defined in this Act but defined in the Representation of the People Act, 1950 (43 of 1950) or the Representation of the People Act, 1951 (43 of 1951) or the Foreign Exchange Management Act, 1999 (42 of 1999) shall have the meanings respectively assigned to them in those Acts.
1. Ins. by Act 28 of 2016, s. 236 (w.r.e.f. 5-8-1976 vide the Act 13 of 2018, s. 220)
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