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    <title>Foreign Exchange Management (Foreign Currency Accounts by A Person Resident In India) (Second Amendment) Regulations, 2012 - Amendment in Regulation 5 and Schedule-I</title>
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    <description>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 &#039;former or survivor&#039; 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 &#039;close relative&#039; 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.</description>
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      <description>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 &#039;former or survivor&#039; 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 &#039;close relative&#039; 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.</description>
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