The Board shall review each regulation every three years unless a review is warranted earlier and amend or repeal any regulation, keeping in view-
(a) its objectives;
(b) its outcome;
(c) experience of its implementation;
(d) experience of its enforcement and the related litigation;
(e) global best practices, if any;
(f) its relevance in the changed environment; and
(g) any other factor considered relevant by the Board.