Rajya Sabha Passes Bill to Regulate Foreign Funds


New Delhi, Aug 19 (IANS): A bill seeking to frame stricter regulations for foreign contributions in form of gifts, funds and other forms to individuals and organisations in social fields was passed by the Rajya Sabha Thursday.

The Foreign Contribution (Regulation) Bill, 2006, aims to regulate the acceptance and utilisation of foreign contributions or foreign hospitality by certain individuals or associations or companies. It also seeks to prohibit acceptance and utilisation of foreign contribution or foreign hospitality for any activities detrimental to the national interest.

It will replace the Foreign Contribution (Regulation) Act, 1976.

Giving clarifications on the bill, Home Minister P. Chidambaram said the bill was needed in view of the growing security concerns.

"The bill will ensure more transparency. Presently, almost half of the contributions are not reported," he said.

"No person having a definite cultural, economic, educational, religious or social programme shall accept foreign contribution unless such person obtains a certificate of registration from the central government," the bill says.

It also prohibits all organisations of a "political nature" from receiving any foreign contribution. It gives the central government powers to classify any organisation in this category.

Clearing doubts expressed by the members on the criteria for defining "political organisations", Chidambaram said that norms will be laid down and the decision will be taken through a transparent procedure.

The bill adds that the central government may deny, suspend or cancel certification under certain conditions.

  

Top Stories


Leave a Comment

Title: Rajya Sabha Passes Bill to Regulate Foreign Funds



You have 2000 characters left.

Disclaimer:

Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. Daijiworld.com will not be responsible for any defamatory message posted under this article.

Please note that sending false messages to insult, defame, intimidate, mislead or deceive people or to intentionally cause public disorder is punishable under law. It is obligatory on Daijiworld to provide the IP address and other details of senders of such comments, to the authority concerned upon request.

Hence, sending offensive comments using daijiworld will be purely at your own risk, and in no way will Daijiworld.com be held responsible.