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CS Executive · Economic, Commercial and Intellectual Property Laws · Law relating to Foreign Contribution Regulation

Sahyog Trust, which holds an FCRA certificate, wants to know what must be kept as to the foreign contribution it receives. Under the Foreign Contribution (Regulation) Act, 2010, what must such a person maintain?

A certificate holder or person with prior approval must maintain, in the prescribed form and manner, an account of the foreign contribution received and a record of the manner in which it was utilised, as required by Section 19 of the FCRA, 2010.

  1. AOnly a record of donor names, without any account of amounts
  2. BAn account of foreign contribution received and a record of how it was utilisedCorrect
  3. COnly a record of the assets created from the contribution
  4. DAccounts only if the contribution exceeds a limit set by the donor

Explanation

Section 19 requires every person granted a certificate or prior approval to maintain, in the prescribed form and manner, an account of foreign contribution received and a record of how it was utilised. Keeping only donor names or only assets falls short of both limbs. No donor-set threshold exists in the section.

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