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    <title>Exemption from enforcement of the regulations in special cases</title>
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    <description>The regulation grants the Board a discretionary power to exempt any person or class from specified provisions of the KYC Registration Agency Regulations for up to twelve months to enable testing of new products, processes, services and business models in a regulatory sandbox. Exemptions are subject to conditions imposed by the Board, including continuous compliance during the exemption period, and the sandbox is defined as a live testing environment deploying innovations to a limited set of eligible customers for a specified time under Board conditions.</description>
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