7. Waiver or modification of rules

(1) The Panel may, on the application or with the consent of a person who is subject to rules made by the Panel, direct that all or any of those rules —
(a) are not to apply to that person, or
(b) are to apply to that person with such modifications as may be specified in the direction.
(2) An application must be made in such manner as the Panel may direct.
(3) The Panel may not give a direction made pursuant to subsection (1) unless it is satisfied that —
(a) compliance by the person with the rules, or with the rules as unmodified, would be unduly burdensome or would not achieve the purpose for which the rules were made, and
(b) the direction would not adversely affect the advancement of any of the Abu Dhabi Global Market's objectives.
(4) A direction may be given subject to conditions.
(5) The Panel may —
(a) revoke a direction made pursuant to subsection (1), or
(b) vary it on the application, or with the consent, of the person to whom it relates.