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        SEBI

        Regulation 42 - Exemption from enforcement of the regulations in special cases.

        Securities and Exchange Board of India (Share Based Employee Benefits and Sweat Equity) Regulations, 2021
        Chapter V
        POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS

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        Regulatory sandbox exemptions permit temporary relaxation of regulations for live testing under specified conditions and oversight. The Board may exempt any person or class of persons from all or any provisions of these regulations for a period not exceeding twelve months to further innovation by testing new products, processes, services or business models in a regulatory sandbox. Such exemptions are subject to conditions specified by the Board, including continuous compliance obligations, and the regulatory sandbox is defined as a live testing environment with a limited set of eligible customers under Board-prescribed conditions.
                          Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
                            Provisions expressly mentioned in the judgment/order text.

                                Regulatory sandbox exemptions permit temporary relaxation of regulations for live testing under specified conditions and oversight.

                                The Board may exempt any person or class of persons from all or any provisions of these regulations for a period not exceeding twelve months to further innovation by testing new products, processes, services or business models in a regulatory sandbox. Such exemptions are subject to conditions specified by the Board, including continuous compliance obligations, and the regulatory sandbox is defined as a live testing environment with a limited set of eligible customers under Board-prescribed conditions.


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