"Cancellation of certificate under the Foreign Contribution (Regulation) Act, 2010". Discuss.
CS Executive · Economic, Business and Commercial Laws · PYQS · June 2022
"Cancellation of certificate under the Foreign Contribution (Regulation) Act, 2010". Discuss.
Answer & Explanation:
Section 14 of the Foreign Contribution (Regulation) Act, 2010 empowers the Central Government to Cancel the Certificate. Accordingly, the Central Government may if it is satisfied after making such inquiry as it may deem fit, by an order, Cancel the certificate if - the holder of the certificate has made a statement in, or in relation to, the application for the grant of registration or renewal thereof, which is incorrect or false; or the holder of the certificate has violated any of the terms and conditions of the certificate or renewal thereof; or in the opinion of the Central Government, it is necessary in the public interest to cancel the certificate; or the holder of certificate has violated any of the provisions of this Act or rules or order made thereunder; or if the holder of the certificate has not been engaged in any reasonable activity in its chosen field for the benefit of the society for two consecutive years or has become defunct. Before passing an order of cancellation of Certificate, the person concerned would be given a reasonable opportunity of being heard. Any person, whose certificate has been cancelled, shall not be eligible for registration or grant of prior permission for a period of three years from the date of cancellation of such certificate.
Topics: Economic Laws
Related Questions in this Topic
- What are the privileges of status holder under the Foreign Trade Policy and Procedure ?
- What is the 'Mode of Payment' by a person resident in India for making Overseas Direct Investment as per Foreign Exchang...
- Discuss the provisions for Liberalized Remittance Scheme with respect to remittances for making tour arrangements or for...
- Explain the Power of Reserve Bank of India to 'Prohibit Acceptance of Deposit and Alienation of Assets' by Non-Banking F...
- Explain the "Manner of Repatriation" of Foreign Exchange as per the Foreign Exchange Management Act, 1999.