(1) The Regulatory Sandbox shall be discontinued upon the expiry of the time period prescribed under section 12, subject to any modification of the time period made under section 15.
(2) The Sandbox Operator may revoke the approval of any participant in the Regulatory Sandbox if such participant,-
(a) expresses his desire to discontinue his participation in the Regulatory Sandbox, by sending a notice in writing to the Sandbox Operator, with reasons for the same.
(b) fails to comply with the conditions prescribed by the Authority or the Sandbox Operator.
(c) has submitted false, misleading or inaccurate information, or has concealed or failed to disclose material facts;
(d) has, in the course of business, contravened any other provisions of law in force which has not been expressly exempted or modified by the Authority; and
(e) carries on its business in a manner detrimental to its consumers or the public at large; or offers goods or services with a technical fault or vulnerability which regularly causes failure of the goods or service or leads to high incidences of fraud.
(3) Any order of revocation made under sub-section (2) shall be a reasoned order made in writing and shall be binding.
(4) Every participant in the Regulatory Sandbox shall be liable to comply with all applicable laws after the discontinuation of the Regulatory Sandbox.
(5) No order of revocation against a participant shall be issued by the Sandbox Operator without giving the participant an opportunity of being heard.