Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Section 5] [Entire Act]

Union of India - Subsection

Section 5(3) in The Foreign Exchange Management (Foreign Currency Accounts By A Person Resident In India) Regulations, 2000

(3)[ Resident individuals are permitted to include resident close relative(s) as adjoint holder Cs) in their Resident Foreign Currency account on 'former or survivor' basis. However, such resident Indian close relative joint account holder shall not be eligible to operate the account during the life time of the resident account holder.Explanation: For the purpose of this sub-regulation, 'close relative' means 'relative' as defined in Section 6 of the Companies Act, 1956.]