Regulation 113 - Power to relax strict enforcement of the regulations - Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009

Power to relax strict enforcement of the regulations. 1 [113]. [(1)] 2 The Board may, in the interest of investors or for the development of the securities market, relax the strict enforcement of any requirement of these regulations, if the Board is satisfied that: (a) the requirement is procedural in nature; or (b) any disclosure requirement is not relevant for a particular class of industry or issuer; or (c) the non-compliance was caused due to factors beyond the control of the issuer. 3 [(2) For seeking relaxation under sub-regulation (1), an application, giving details and the grounds on which such relaxation has been sought, shall be filed with the Board. (3) The application referred to under sub-regulation (2) shall be accompanied by a non-refundable fee of rupees one lakh payable 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 demand draft in favour of the Board payable in Mumbai.] ********* 1 Regulation 109 renumbered as Regulation 113 by the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, w.e.f. 01.12.2015. 2 Existing regulation numbered as sub-regulation (1) by the SEBI (Payment of Fees and Mode of Payment) (Amendment) Regulations, 2017, w.e.f. 6.3.2017. 3 Inserted ibid.