No foreign fund for political organisations; Govt notifies FCRA By TII News Service
May 03, 2011 , New Delhi
THE Central Govt has notified the Foreign Contribution Regulation Act
(FCRA) 2010, and it has come into force with effect from May 1, 2011. The
FCR Rules 2011
have also come into force from yesterday.
The salient highlights of the
FCRA 2010 are as follows:
• Concept of ‘permanent' registration done away
with; A five-year registration is provided so that dormant organisations do not
continue. All existing registered organisations are deemed to be on a five-year
validity from now.
• ‘person' has been defined in a broader sense.
• ‘Organisations of political nature' cannot receive foreign funds.
• Ceiling on administrative expenses has been prescribed.
•
Procedure for suspension and cancellation of registration has been Prescribed.
• Statutory role provided for banking sector in regulation.
•
Time limits have been provided for accountability of officials.
• To
deal with bona fide mistakes of NGOs, provision has been made for 'compounding'
of offences.
