Participation in the Regulatory Sandbox

(1)A Sandbox Operator shall, within thirty days from the date of notification of a Regulatory Sandbox under section 13, call for applications from any person desiring to participate in the Regulatory Sandbox. (2) No person shall be eligible to make any application under sub-section (1) unless,- (a) he carries on business or has a registered office or branch office in Karnataka; and (b) the goods or service sought to be tested in the Regulatory Sandbox are proposed to be deployed in or operated in a larger scale, from Karnataka. (3) The application shall be in such form and in such manner as may be prescribed, and shall indicate the manner in which the proposed participant fulfils the conditions laid down by the Authority to participate in the regulatory sandbox, as well as the criteria laid down under sub-section (5). (4) The Sandbox Operator, shall, within a period of thirty days from the receipt of any application under this section either reject an application, or approve it. In approving