{"act":{"id":"finance-act-2016","short_title":"The Finance Act, 2016","long_title":"An Act to give effect to the financial proposals of the Central Government for the financial year 2016-2017.","act_number":null,"act_year":2016,"enact_date":"2016-06-27","enforcement_date":null,"ministry":"Ministry of Finance","department":"Department of Revenue","jurisdiction":"CENTRAL","unit":"section","section_count":276,"in_force":true,"spent":false,"spent_note":null,"duplicate_of":null,"text_source":"published","scan_url":null,"url":"https://indiacode.ecourtsindia.com/finance-act-2016/"},"unit":"section","section":{"number":"236","heading":"Amendment of section 2 of Act 42 of 2010","text":"PART XIII Amendment to the Foreign Contribution (Regulation) Act, 2010 Amendment of section 2 of Act 42 of 2010 236. In the Foreign Contribution (Regulation) Act, 2010, in section 2, in sub-section (1), in clause (j), in sub-clause (vi), the following proviso shall be inserted and shall be deemed of have been inserted with effect from 1[the 5th August, 1976], namely:— \"Provided that where the nominal value of share capital is within the limits specified for foreign investment under the Foreign Exchange Management Act, 1999 (42 of 1999), or the rules or regulations made thereunder, then, notwithstanding the nominal value of share capital of a company being more than one-half of such value at the time of making the contribution, such company shall not be a foreign source;\". 1. Substituted for \"the 26th September, 2010\" by the Finance Act, 2018, w.e.f. a date yet to be notified.","html":"<p>PART XIII</p><p><b>Amendment to the Foreign Contribution (Regulation) Act, 2010</b></p><p><b>Amendment of section 2 of Act 42 of 2010</b></p><p><b>236. </b>In the Foreign Contribution (Regulation) Act, 2010, in section 2, in sub-section (1), in clause (<i>j</i>), in sub-clause (<i>vi</i>), the following proviso shall be inserted and shall be deemed of have been inserted with effect from <sup>1</sup><b>[</b><i>the 5th August, 1976</i><b>]</b>, namely:—</p><p>\"<b>Provided </b>that where the nominal value of share capital is within the limits specified for foreign investment under the Foreign Exchange Management Act, 1999 (42 of 1999), or the rules or regulations made thereunder, then, notwithstanding the nominal value of share capital of a company being more than one-half of such value at the time of making the contribution, such company shall not be a foreign source;\".</p><p>1. Substituted for \"the 26th September, 2010\" by the Finance Act, 2018, w.e.f. a date yet to be notified.</p>","words":147,"text_source":"published"},"classification":[],"instruments":[],"judgments":[],"corresponds_to":[],"url":"https://indiacode.ecourtsindia.com/finance-act-2016/section/236/","note":null,"source_note":"Harvested from the Income Tax Department's own portal at incometaxindia.gov.in, which publishes the Finance Acts section by section. India Code carries none of them: its Central community holds the Acts that stand as general law, and a Finance Act is an amending and rate-fixing instrument.","judgments_note":"Judgment holdings are the ratio decidendi as extracted from the order by eCourts India, reproduced unaltered. Reported judgments only.","licence":"Published with commentary and other original matter under s.52(1)(q)(ii), Copyright Act 1957."}