11. Regulatory Sandbox Duration
11-2 | The Regulatory Sandbox testing period may run between six (6) to twelve (12) months. This will facilitate adequate insight for the Central Bank with regard to the innovation and its impact on Consumers and the financial market and enable both the Central Bank and the Participant to understand the viability of the innovation. |
11-2 | Any extension of the testing period shall be determined only on a case-by-case basis. A Participant must submit a request to the Central Bank with the rationale for an extension no later than thirty (30) calendar days before the expiry of the testing period. |