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[17. Foreign contribution through scheduled bank.—(1) Every person who has been granted
certificate or prior permission under section 12 shall receive foreign contribution only in an account
designated as "FCRA Account" by the bank, which shall be opened by him for the purpose of remittances
of foreign contribution in such branch of the State Bank of India at New Delhi, as the Central
Government may, by notification, specify in this behalf:
Provided that such person may also open another “FCRA Account” in any of the scheduled bank of
his choice for the purpose of keeping or utilising the foreign contribution which has been received from
his “FCRA Account” in the specified branch of State Bank of India at New Delhi:
Provided further that such person may also open one or more accounts in one or more scheduled
banks of his choice to which he may transfer for utilising any foreign contribution received by him in his
“FCRA Account” in the specified branch of the State Bank of India at New Delhi or kept by him in
another “FCRA Account” in a scheduled bank of his choice:
Provided also that no funds other than foreign contribution shall be received or deposited in any such
account.
(2) The specified branch of the State Bank of India at New Delhi or the branch of the scheduled bank
where the person referred to in sub-section (1) has opened his foreign contribution account or the
authorised person in foreign exchange, shall report to such authority as may be specified—
(a) the prescribed amount of foreign remittance;
(b) the source and manner in which the foreign remittance was received; and
(c) other particulars, in such form and manner as may be prescribed.]
18. Intimation.—(1) Every person who has been granted a certificate or given prior approval under
this Act shall give, within such time and in such manner as may be prescribed, an intimation to the
Central Government, and such other authority as may be specified by the Central Government, as to the
amount of each foreign contribution received by it, the source from which and the manner in which such
foreign contribution was received, and the purposes for which, and the manner in which such foreign
contribution was utilised by him.
(2) Every person receiving foreign contribution shall submit a copy of a statement indicating therein
the particulars of foreign contribution received duly certified by officer of the bank or authorised person
in foreign exchange and furnish the same to the Central Government along with the intimation under
sub-section (1).
19. Maintenance of accounts.—Every person who has been granted a certificate or given prior
approval under this Act shall maintain, in such form and manner as may be prescribed,—
(a) an account of any foreign contribution received by him; and
(b) a record as to the manner in which such contribution has been utilised by him.
20. Audit of accounts.—Where any person who has been granted a certificate or given prior
permission, fails to furnish any intimation under this Act within the time specified therefor or the
intimation so furnished is not in accordance with law or if, after inspection of such intimation, the Central
Government has any reasonable cause to believe that any provision of this Act has been, or is being,
contravened, the Central Government may, by general or special order, authorise such gazette officer,
holding a Group A post under the Central Government or any other officer or authority or organisation, as
1. Subs. by Act 33 of 2020, s. 12, for section 17 (w.e.f. 29-9-2020).
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it may think fit, to audit any books of account kept or maintained by such person and thereupon every
such officer shall have the right to enter in or upon any premises at any reasonable hour, before sunset and
after sunrise, for the purpose of auditing the said books of account:
Provided that any information obtained from such audit shall be kept confidential and shall not be
disclosed except for the purposes of this Act.
21. Intimation by candidate for election.—Every candidate for election, who had received any
foreign contribution, at any time within one hundred and eighty days immediately preceding the date on
which he is duly nominated as such candidate, shall give, within such time and in such manner as may be
prescribed, an intimation to the Central Government or prescribed authority or both as to the amount of
foreign contribution received by him, the source from which, and the manner in which, such foreign
contribution was received and the purposes for which and the manner in which such foreign contribution
was utilised by him.
22. Disposal of assets created out of foreign contribution.—Where any person who was permitted
to accept foreign contribution under this Act, ceases to exist or has become defunct, all the assets of such
person shall be disposed of in accordance with the provisions contained in any law for the time being in
force under which the person was registered or incorporated, and in the absence of any such law, the
Central Government may, having regard to the nature of assets created out of foreign contribution
received under this Act, by notification, specify that all such assets shall be disposed off by such
authority, as it may specify, in such manner and procedure as may be prescribed.