With reference to the Foreign Contribution (Regulation) Amendment Bill, 2026, consider the following statements:
- The Bill vests an institution's foreign-funded assets in a government-appointed "designated authority" automatically upon cancellation, surrender or lapse of FCRA registration.
- Under the existing (pre-amendment) framework, an institution whose certificate lapsed could reclaim its assets upon re-registration.
- Proceeds from the sale of vested assets, if a fresh certificate is not obtained within the prescribed period, are credited to the Consolidated Fund of India.
- The Bill, as passed, applies retrospectively to FCRA registrations that lapsed before its enactment.
How many of the above statements are correct?
Tests the ability to isolate a bill's precise legal mechanics from surrounding political controversy, including correctly identifying what the bill does NOT do (retrospective application).
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