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    <title>Exemption from enforcement of the regulations in special cases</title>
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    <description>SEBI may exempt any person or class from all or part of the Collective Investment Schemes regulations for a period not exceeding twelve months to facilitate testing new products, processes, services or business models in a live regulatory sandbox; such exemptions are subject to conditions imposed by the Board and continuous compliance by the applicant. A regulatory sandbox is defined as a live testing environment deploying innovations to a limited set of eligible customers for a specified period under Board-specified conditions.</description>
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