Regulatory relaxation permits conditional departure from compliance for procedural issues or factors beyond an entity's control. Regulation 28B authorises the Board, either suo motu or on a Vault Manager's application, to relax strict compliance where the matter is procedural or ... Summary
Regulatory relaxation permits conditional departure from compliance for procedural issues or factors beyond an entity's control.
Regulation 28B authorises the Board, either suo motu or on a Vault Manager's application, to relax strict compliance where the matter is procedural or technical, or non-compliance resulted from factors beyond the entity's control. The Board must record its reasons in writing and may impose conditions in the interests of investors and the securities market. An application must set out the relevant details and grounds and be accompanied by a non-refundable fee through prescribed payment modes.
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