Joint holding by close relatives in resident foreign currency accounts on former-or-survivor basis, but operation restricted during primary holder's lifetime. Resident individuals are permitted to include resident close relative(s) as a joint holder(s) in their Resident Foreign Currency account and EEFC account on 'former or survivor' basis; such resident close relative joint account holder shall not be eligible to operate the account during the life time of the resident account holder. For this purpose 'close relative' means relative as defined in Section 6 of the Companies Act, 1956. The amendment is made to Regulation 5 and the Schedule and is given retrospective effect with a clarification against adverse effect.