Foreign Exchange Management (Foreign Currency Accounts by A Person Resident In India) (Second Amendment) Regulations, 2012 - Amendment in Regulation 5 and Schedule-I

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... cation No. FEMA/239/2012-RB Dated 25-9-2012 G.S.R. 915(E)- In exercise of the powers conferred by clause (b) of Section 9 and clause (e) of sub-section (2) of Section 47 of the Foreign Exchange Management Act, 1999 (42 of 1999) , the Reserve Bank of India makes the following amendments in the Foreign Exchange Management (Foreign Currency Accounts by a Person Resident in India) Regula .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... ident close relative(s) as a joint holder(s) 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 .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X

..... e adversely affected as a result of retrospective effect being given to these regulations. 2. The Principal Regulations were published in the Official Gazette vide No. G.S.R. 393(E) dated May 5, 2000 in Part II, Section 3, Sub-section (i) and Subsequently amended vide (a) No. GSR 675(E), dated 28.08.2000, (b) No. GSR 89(E), dated 12.02.2001 (c) No. GSR 103(E), dated 19.02.2001 (d) No. .....

X X   X X   Extracts   X X   X X

→ Full Text of the Document

X X   X X   Extracts   X X   X X