Regulation empowers board to relax enforcement for registrars and share transfer agents on hardship or procedural grounds. Regulation 35 authorises the Board, suo moto or on application, to relax strict enforcement of these Regulations for investor protection and market development where a requirement causes undue hardship, is procedural or technical, or non compliance was due to factors beyond the person's control. Applicants must file detailed grounds with a prescribed non refundable fee; the Board will process applications, record reasons for acceptance or refusal, and may seek recommendations from a stock exchange or clearing corporation.