| FOREIGN CONTRIBUTION (REGULATION) ACT, 1976 |
(e) "foreign source" includes-(i) the government of any foreign country or territory and any agency of such government,(ii) any international agency, not being the United Nations or any of its specialised agencies, the World Bank, International Monetary Fund or such other agency as the Central Government may, by notification in the Official Gazette, specify in this behalf,(iii) a foreign company within the meaning of section 591 of the Companies Act, 1956 (1 of 1956), and also includes-(a) a company which is a subsidiary of a foreign company, and(b) a multi-national corporation within the meaning of this Act.(iv) a corporation, not being a foreign company, incorporated in a foreign country or territory,(v) a multi-national corporation within the meaning of this Act,(vi) a company within the meaning of the Companies Act, 1956 (1 of 1956), if more than one-half of the nominal value of its share capital is held, either singly or in the aggregate, by one or more of the following, namely,-(a) government of a foreign country or territory,(b) citizens of a foreign country or territory,(c) corporations incorporated in a foreign country or territory,(d) trusts, societies or other associations of individuals (whether incorporated or not), formed or registered in a foreign country or territory,(vii) a trade union in any foreign country or territory, whether or not registered in such foreign country or territory,(viii) a foreign trust by whatever name called, or a foreign foundation which is either in the nature of trust or is mainly financed by a foreign country or territory,(ix) a society, club or other association of individuals formed or registers outside India,(x) a citizen of a foreign country,but does not include any foreign institution which has been permitted by the Central Government, by notification in the Official Gazette, to carry on its activities in India;
.... continued
|
|
