INDIA FOREIGN EXCHANGE

 
 
 
 
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    India Foreign Exchange Info

     

    Foreign Contribution (Regulation) Act, 1976

     
     
    (b) 5[without prejudice to the provisions of sub-section (1) of section 6, require any association specified in that sub-section], to obtain prior permission of the Central Government before accepting any foreign contribution;

    (c) require any person or class of persons or any association not being an association specified in section 6, to furnish intimation within such time and in such manner as may be prescribed as to the amount of any foreign contribution received by such person or class of persons or association, as the case may be, and the source from which and the manner in which such contribution was received and the purpose for which and the manner in which such foreign contribution was utilised;

    (d) require any person or class of persons, not specified in section 9, to obtain prior permission of the Central Government before accepting any foreign hospitality;

    (e) require any person or class of persons, not specified in section 9, to furnish intimation, within such time and in such manner as may be prescribed, as to the receipt of any foreign hospitality, the source from which and the manner in which such hospitality was received :

    PROVIDED that no such prohibition or requirement shall be made unless the Central Government is satisfied that the acceptance of foreign contribution by such association or person or class of persons, as the case may be, the acceptance of foreign hospitality by such person, is likely to affect prejudicially-

    (i) the sovereignty and integrity of India; or

    (ii) the public interest; or

    (iii) freedom or fairness of election to any Legislature; or

    (iv) friendly relations with any foreign State; or

    (v) harmony between religious, racial, linguistic or regional groups, castes or communities. ....continued

     
     
     
     
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