(1) Every person who has been granted a certificate or given prior permission under section 12 shall receive foreign contribution in a single account only through such one of the branches of a bank as he may specify in his application for grant of certificate:
Provided that such person may open one or more accounts in one or more banks for utilising the foreign contribution received by him:
Provided further that no funds other than foreign
contribution shall be received or deposited in such account or
accounts.
(2) Every bank or authorised person in foreign exchange shall report to such authority as may be specified-
(a) prescribed amount of foreign remittance;
(b) the source and manner in which the foreign remittance was received; and
(c) other particulars, in such form and manner as may be prescribed.
Foreign Contribution Regulation Act 2010
Section 16 Renewal of certificate
Section 17 Foreign contribution through scheduled bank
Section 19 Maintenance of accounts
Section 21 Intimation by candidate for election
Section 22 Disposal of assets created out of foreign contribution
Section 23 Inspection of accounts or records
Section 24 Seizure of accounts or records
Section 25 Seizure of article or currency or security received in contravention of the Act
Section 26 Disposal of seized article or currency or security
Section 27 Seizure to be made in accordance with Act 2 of 1974
Section 28 Confiscation of article or currency or security obtained in contravention of the Act