Guide
to Foreign Contribution (Regulation) Act, 2010(FCRA)
Legal Objective of the Act:
·
To regulate the
acceptance and utilisation of FC/donations or foreign hospitality by
certain individuals or associations or companies; and
·
To prohibit acceptance and utilisation of FC/donations
or foreign hospitality for any activities detrimental
to the national interest and matters connected thereto.
It Applies to whole
of India including(also applies to the following):
·
Citizens of India
outside India;
·
Foreign Branches and
Subsidiaries of ‘Body Corporates registered in India’.
·
However, not applies
to a company registered under Companies Act, 1956/2013 whose more than half of
nominal capital is held by foreign company or a foreign source.