Section 22
Disposal of assets created out of foreign contribution.
The Foreign Contribution (Regulation) Act, 2010
About this Act
An Act to consolidate the law to regulate the acceptance and utilisation of foreign contribution or foreign hospitality by certain individuals or associations or companies and to prohibit acceptance and utilisation of foreign contribution or foreign hospitality for any activities detrimental to the national interest and for matters connected therewith or incidental thereto.
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.