TMI BlogSecurities and Exchange Board of India (Regulatory Sandbox) (Amendment) Regulations, 2020X X X X Extracts X X X X X X X X Extracts X X X X ..... ties and Exchange Board of India (Bankers to an Issue) Regulations, 1994 , Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 , Securities and Exchange Board of India (Custodian) Regulations, 1996 , Securities and Exchange Board of India (Credit Rating Agencies) Regulations, 1999 , Securities and Exchange Board of India (Collective Investment Scheme) Regulations, 1999 , Securities and Exchange Board of India (Foreign Venture Capital Investor) Regulations, 2000 , Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002 , Securities and Exchange Board of India (Central Database of Market Participants) Regulations, 2003 , Securities and Exchange Board of India (Issue and Listing of Securitised Debt Instruments and Security Receipts) Regulations, 2008 , Securities and Exchange Board of India (Issue and Listing of Debt Securities) Regulations, 2008 , Securities and Exchange Board of India (Intermediaries) Regulations, 2008 , Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 , Securities and Exchange Board of India (Substantial Acquisition of Shares and Takeovers) Regulations, 2011 , Securities ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... echnological aspects relating to testing new products, processes, services, business models, etc. in live environment of regulatory sandbox in the securities markets. (2) Any exemption granted by the Board under sub-regulation (1) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation .-For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innovation in the securities market, subject to such conditions as may be specified by the Board. Amendment to the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 . 4. In the Securities and Exchange Board of India (Merchant Bankers) Regulations, 1992 , after Chapter V, following Chapter shall be inserted, namely, - CHAPTER VI POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 44. (1) The Board may, exempt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ities and Exchange Board of India (Underwriters) Regulations, 1993 . 6. In the Securities and Exchange Board of India (Underwriters) Regulations, 1993 , after Chapter V, following Chapter shall be inserted, namely, - CHAPTER VI POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 33 . (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twelve months, for furthering innovation in technological aspects relating to testing new products, processes, services, business models, etc. in live environment of regulatory sandbox in the securities markets. (2) Any exemption granted by the Board under sub-regulation (1) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation .-For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... atory sandbox in the securities markets. (2) Any exemption granted by the Board under sub-regulation (1) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation.-For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innovation in the securities market, subject to such conditions as may be specified by the Board. Amendment to the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 . 9. In the Securities and Exchange Board of India (Mutual Funds) Regulations, 1996 , after Chapter IX, following Chapter shall be inserted, namely, - CHAPTER IX-A POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 76A . (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be spe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Agencies) Regulations, 1999 , after Chapter VI, following Chapter shall be inserted, namely, - CHAPTER VII POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 43 . (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twelve months, for furthering innovation in technological aspects relating to testing new products, processes, services, business models, etc. in live environment of regulatory sandbox in the securities markets. (2) Any exemption granted by the Board under sub-regulation (1) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation .-For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innovation in the securities market, subject to such con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation .-For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innovation in the securities market, subject to such conditions as may be specified by the Board. Amendment to the Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002 . 14. In the Securities and Exchange Board of India (Issue of Sweat Equity) Regulations, 2002 , after Chapter IV, following Chapter shall be inserted, namely, - CHAPTER V POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 21 . (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twelve months, for furthering innovation in technological aspects relating to testing ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ing of Securitised Debt Instruments and Security Receipts) Regulations, 2008 , after Chapter IX, following Chapter shall be inserted, namely, - CHAPTER IX-A POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 47A . (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twelve months, for furthering innovation in technological aspects relating to testing new products, processes, services, business models, etc. in live environment of regulatory sandbox in the securities markets. (2) Any exemption granted by the Board under sub-regulation (1) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation. -For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innova ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation .-For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innovation in the securities market, subject to such conditions as may be specified by the Board. Amendment to Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 . 19. In the Securities and Exchange Board of India (Delisting of Equity Shares) Regulations, 2009 , after Chapter VII, following Chapter shall be inserted, namely, - CHAPTER VII-A POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 28A. (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twelve months, for furthering innovation in technolo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... {KYC (Know Your Client) Registration Agency} Regulations, 2011 , after Chapter V, following Chapter shall be inserted, namely, - CHAPTER VI POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 26 . (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twelve months, for furthering innovation in technological aspects relating to testing new products, processes, services, business models, etc. in live environment of regulatory sandbox in the securities markets. (2) Any exemption granted by the Board under sub-regulation (1) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation .-For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innovation in the securit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . (2) Any exemption granted by the Board under sub-regulation (1) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation. -For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innovation in the securities market, subject to such conditions as may be specified by the Board. Amendment to Securities and Exchange Board of India (Investment Advisers) Regulations, 2013. 24. In the Securities and Exchange Board of India (Investment Advisers) Regulations, 2013 , after Chapter V, following Chapter shall be inserted, namely, - CHAPTER V-A POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 28A . (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h Analysts) Regulations, 2014 , after Chapter V, following Chapter shall be inserted, namely, - CHAPTER V-A POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 32A . (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twelve months, for furthering innovation in technological aspects relating to testing new products, processes, services, business models, etc. in live environment of regulatory sandbox in the securities markets. (2) Any exemption granted by the Board under sub-regulation (1) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation .-For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innovation in the securities market, subject to such con ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation. -For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innovation in the securities market, subject to such conditions as may be specified by the Board. Amendment to Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015 . 29. In the Securities and Exchange Board of India (Issue and Listing of Municipal Debt Securities) Regulations, 2015 , after Chapter VII-A, following Chapter shall be inserted, namely, - CHAPTER VII-B POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 27B. (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twelve months, for furthering ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (Regulation) (Stock Exchanges and Clearing Corporations) Regulations, 2018 , after Chapter VIII, following Chapter shall be inserted, namely, - CHAPTER VIII-A POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 49A . (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twelve months, for furthering innovation in technological aspects relating to testing new products, processes, services, business models, etc. in live environment of regulatory sandbox in the securities markets. (2) Any exemption granted by the Board under sub-regulation (1) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation .-For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innov ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n granted by the Board under sub-regulation (1) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation .-For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innovation in the securities market, subject to such conditions as may be specified by the Board. Amendment to Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 . 34. In the Securities and Exchange Board of India (Buy-back of Securities) Regulations, 2018 , after Chapter V, following Chapter shall be inserted, namely, - CHAPTER V-A POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 25A . (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twelve months, fo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gulations, 2020 , after Chapter VI, following Chapter shall be inserted, namely, - CHAPTER VI-A POWER TO RELAX STRICT ENFORCEMENT OF THE REGULATIONS Exemption from enforcement of the regulations in special cases. 42A. (1) The Board may, exempt any person or class of persons from the operation of all or any of the provisions of these regulations for a period as may be specified but not exceeding twelve months, for furthering innovation in technological aspects relating to testing new products, processes, services, business models, etc. in live environment of regulatory sandbox in the securities markets. (2) Any exemption granted by the Board under sub-regulation (1) shall be subject to the applicant satisfying such conditions as may be specified by the Board including conditions to be complied with on a continuous basis. Explanation. -For the purposes of these regulations, regulatory sandbox means a live testing environment where new products, processes, services, business models, etc. may be deployed on a limited set of eligible customers for a specified period of time, for furthering innovation in the securities market, subject to such conditions as m ..... 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