Q1. With reference to the changes introduced by the Foreign Contribution (Regulation) Amendment Act, 2020, consider the following statements. Which of the above is/are NOT correct?
- The cap on administrative expenses that may be met out of foreign contribution was reduced from 50% to 20%.
- Transfer of foreign contribution to any other person or organisation was prohibited, even where the transferee holds a valid FCRA registration.
- Foreign contribution is required to be received only in an FCRA account at a designated branch of the State Bank of India in New Delhi.
- The mandatory designated account for receipt of foreign contribution may be opened in any scheduled commercial bank chosen by the recipient organisation.
- A. 1 and 2
- B. 3 only
- C. 4 only
- D. 2 and 4