INDIA FOREIGN EXCHANGE

 
 
 
 
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    India Foreign Exchange Info

     

    Foreign Contribution (Regulation) Act, 1976

     

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    (e) "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 in the Official Gazette, specify in this behalf,

    (iii) a foreign company within the meaning of section 591 of the Companies Act, 1956 (1 of 1956), and also includes-

    (a) a company which is a subsidiary of a foreign company, and

    (b) a multi-national corporation within the meaning of this Act.

    (iv) a corporation, not being a foreign company, incorporated in a foreign country or territory,

    (v) a multi-national corporation within the meaning of this Act,

    (vi) a company within the meaning of the Companies Act, 1956 (1 of 1956), if 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) government of a foreign country or territory,

    (b) 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, ...continued

     
     
     
     
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