Lok Sabha passes Bill to regulate foreign fund flow
August 27th, 2010 - 8:31 pm ICT by ANINew Delhi, Aug 27 (ANI): The Lok Sabha on Friday passed a Bill, which aims to check the huge inflow of foreign funds to religious and social organsiations.
The new legislation, moved by the Union Home Ministry, received an overwhelming support from the house and passed with majority, as the members had earlier expressed their concerns over the illegal money flow into the country in the wake of changed internal security situation.
The Rajya Sabha had on August 19 passed a Bill paving way for a new law to regulate foreign contributions and hospitality by individuals and organisations.
The Bill is important in the wake of changed internal security environment and large fund flow.
Foreign Contribution (Regulation) Bill, 2006, replaces the Foreign Contribution (Regulation) Act, 1976.
It has been reported that once the Bill gets the approval of President Pratibha Devisingh Patil, it will become a law.
After the Bill becomes a law, all religious outfits, voluntary organisations and all political parties will have to provide details of the money that they receive from overseas donors.
“It will help in debarring people prosecuted or convicted for indulging in activities like forcible religious conversions and those prosecuted or convicted for triggering communal tension from receiving foreign contributions,” Minister of State for Home Affairs Ajay Maken informed the Lok Sabha before the Bill was passed.
“Over 40,000 organisations were receiving foreign contribution in the country, and half of them do not file accounts and report the inflow of funds. We need a stricter law to regulate (foreign) money,” he added. (ANI)
- Lok Sabha passes bill to regulate foreign fund flow - Aug 27, 2010
- Rajya Sabha passes bill to regulate foreign funds (Lead) - Aug 19, 2010
- Bill to regulate foreign funds introduced in parliament - Aug 19, 2010
- No policy paralysis in government, stresses Chidambaram (Lead) - Jan 12, 2012
- Government unveils 31 bills for passing, 23 for introduction - Nov 16, 2011
- Anti-graft Lokpal bill in Lok Sabha Thursday - Aug 03, 2011
- Important bills likely in monsoon session (To go with parliament curtainraiser) - Jul 25, 2010
- Bansal says disruptions in parliament against true spirit of democracy - Mar 25, 2011
- Views sought on bill to curb bribery by foreigners - Apr 12, 2011
- Salient features of Lokpal bill - Dec 22, 2011
- Important bills for budget session (With Coalition hiccups come to the fore in parliament) - Apr 01, 2012
- List of bills on monsoon agenda (To go with parliament curtain raiser) - Jul 31, 2011
- Winter session embarrassed UPA government - Dec 30, 2011
- Women's reservation bill among 66 listed for budget session - Feb 18, 2011
- Sports ministry to introduce sports bill in this session - Aug 03, 2011
Tags: bill becomes a law, communal tension, foreign money, home affairs, illegal money, inflow, internal security, Lok Sabha, minister of state, money flow, new legislation, overwhelming support, pratibha devisingh patil, rajya sabha, regulation act, religious conversions, security environment, security situation, union home ministry, voluntary organisations
