Section 15 of The Foreign Contribution (Regulation) Act, 2010
- (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.
Summary
- This provision explains who controls foreign funds when a person's registration is cancelled or surrendered.
- Custody of the foreign contributions and any assets bought with them is legally transferred to a prescribed authority.
- This authority can manage the organization's activities in the public interest if directed by the government.
- The authority can spend the foreign funds or sell the assets if there is not enough money to keep the activities running.
- If the person manages to register again in the future, the authority must return the funds and assets to them.
Practical examples
FAQ
1. Who takes my funds if my registration is cancelled under Section 15 of the FCRA 2010?
Under Section 15 of the FCRA 2010, your foreign contribution and assets created from it will vest in a prescribed authority.
2. Can the government run my NGO under Section 15 of the foreign contribution rules?
Yes, under Section 15 of the foreign contribution rules, the authority can manage your activities if it is considered necessary and in the public interest.
3. Can I ever get my assets back under Section 15 of The Foreign Contribution (Regulation) Act, 2010?
Yes, under Section 15 of The Foreign Contribution (Regulation) Act, 2010, the authority shall return the assets to you if you are subsequently registered under the Act.
4. What happens if there is no money to run the activity under Section 15 of the 2010 foreign funding law?
Under Section 15 of the 2010 foreign funding law, the authority may utilise the foreign contribution or dispose of the assets to fund the activity.
Test yourself
Q1.Under Section 15 of The Foreign Contribution (Regulation) Act, 2010, what triggers the transfer of assets to a prescribed authority?
Q2.According to Section 15 of the FCRA 2010, under what condition can the authority manage the activities of the person?
Q3.Under Section 15 of the 2010 foreign contribution law, what is the authority allowed to do if adequate funds are not available for running the activity?
Q4.Under Section 15 of The Foreign Contribution (Regulation) Act, 2010, when must the prescribed authority return the vested assets to the person?