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    <title>Relaxation from regulations for furthering innovation</title>
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    <description>The Board may grant a time-limited exemption from all or specified Portfolio Managers Regulations to a person or class of persons. The exemption may operate for up to twelve months and is intended to support live-environment testing of innovative products, processes, services and business models in the securities-market regulatory sandbox. Applicants must satisfy conditions specified by the Board.</description>
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      <description>The Board may grant a time-limited exemption from all or specified Portfolio Managers Regulations to a person or class of persons. The exemption may operate for up to twelve months and is intended to support live-environment testing of innovative products, processes, services and business models in the securities-market regulatory sandbox. Applicants must satisfy conditions specified by the Board.</description>
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