PART B.2: POLICY WITH REGARD TO COMPREHENSIVE REVIEW OF
EXISTING REGULATIONS
(i) The regulators shall comprehensively review each regulation and
amend or repeal any regulation keeping in view the following:
a. objectives and outcomes
b. experience of implementation of regulations including w.r.t
enforcement and litigation so far
c. regulatory practices
d. relevance in current economic environment
e. any other factor considered relevant by the regulator
(ii) The public consultation and feedback from specific stakeholders,
experts or field officers, wherever relevant, as referred to in Part A.2
should be followed for the comprehensive review as well.
(iii) Any Form that is part of a regulation should also be reviewed with an
objective of rationalisation and reduction in compliance burden.
The exercise of comprehensive review of existing rules and
regulations shall commence with effect from 01.01.2024 and be
completed within financial year 2024-25.