5Director may exempt etc.

5 Director may exempt etc. (1) The Director may: (a) extend a limitation of time prescribed by or under this Act, whether or not the prescribed period has expired; or (b) exempt an incorporated association or an officer of an incorporated association from the obligation to comply with a provision of this Act or the Regulations. (1A) The power under subsection (1) may be exercised: (a) on the Director's own initiative; or (b) on the application of an incorporated association, an officer of an incorporated association or a person authorised by an incorporated association to make an application under this section. (2) The Director may grant an extension or exemption under subsection (1) on the conditions the Director considers appropriate. (3) The Director may, in writing, revoke or vary an extension or exemption granted under subsection (1).