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17. Waiver of requirements of Parts 2 and 3

The Commission may, by notice to an applicant or an issuer and a recognized exchange company modify or waive, subject to such reasonable conditions as the Commission may think fit to impose, any requirement of Parts 2 and 3 where the Commission is of the opinion that —

(a) the applicant or issuer, as the case may be, cannot comply with the requirement or it would be unreasonable or unduly burdensome for the applicant or issuer to do so;
(b) the requirement has no relevance to the circumstances of the applicant or issuer, as the case may be; or
(c) compliance with the requirement would be detrimental to the commercial interests of the applicant or issuer, as the case may be, or to the interests of the holders of its securities.