Power to relax regulatory compliance allows Board to grant conditional relief for non compliance caused by factors beyond control. The Board may suo motu or on application by a recognised stock exchange or recognised clearing corporation grant relaxation from strict compliance of any provision, subject to conditions deemed fit in the interests of investors and the securities market, if satisfied that non compliance was due to factors beyond the entity's control or that the requirement is procedural or technical; applications must pay a non refundable fee by prescribed electronic modes.