(1) In order to remove any difficulties in the application or interpretation of these regulations, the Board may issue clarifications or grant relaxations from application
requirement or conditions of these regulations, after recording reasons therefore.

(2) The Board may, on an application made by any issuer, relax any of the procedural requirements or conditions or strict enforcement of these regulations, if the Board is satisfied that:

(a) requirement is procedural or technical in nature; or

(b) requirement causes undue hardship to a particular class of industry or issuers from accessing the securities market; or

(c) relaxation is in the interest of substantial number of investors; or

(d) such relaxation will be in the interest of securities market.