Regulation 29 - Power to relax strict enforcement of the regulations - Securities and Exchange Board of India (Share Based Employee Benefits) Regulations, 2014

Power to relax strict enforcement of the regulations. 29. (1) The Board may suo motu or on an application made by a company, for reasons recorded in writing, grant relaxation from strict compliance with any of these regulations subject to such conditions as the Board deems fit to impose in the interests of investors in securities and the securities market. (2) A company making an application under sub-regulation (1), shall pay a non-refundable fee of rupees one lakh 1 [by way of direct credit in the bank account through NEFT/RTGS/IMPS or any other mode allowed by RBI or] by way of a banker's cheque or demand draft payable at Mumbai in favour of the Board. ******* 1 Inserted by the Securities and Exchange Board of India (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017 (w.e.f. 6-3-2017).