Where a capital market licensee, based on the nature, scale and complexity of its business, determines that an approved person, by not undergoing the CPD programme for the specific controlled function, on an annual basis, shall not impair the functioning of the capital market licensee, it should approach the CBB with the rationale and request for an exemption from the CPD requirement stipulated in Paragraph TC-1.2.1. The CBB may consider exempting the approved person undertaking the specific controlled function from the CPD requirement altogether or may recommend that the approved person undergoes the CPD programme at such other frequency (biennial, triennial etc.) as deemed necessary.