157HNational interest exemption from provisions of Part 3 or this Chapter

157H  National interest exemption from provisions of Part 3 or this Chapter  (1) The Minister may, by written instrument, grant an exemption (a national interest exemption) for an action from a provision of Part 3 or this Chapter:  (a) on the Minister’s initiative; or  (b) on application under section 157K. Note: The Minister may request information to make an informed decision under subsection 157V(1).  (2) To avoid doubt, the Minister may do so whether or not the action has been referred to the Minister under a provision of Part 7. Content of exemption  (3) The exemption must specify:  (a) the action; and  (b) each provision from which the action is exempt; and  (c) the person to whom the exemption applies; and  (d) the period for which the exemption is in force; and  (e) any conditions imposed on the exemption under section 157M.  (4) The Minister must be satisfied that the period specified for the purposes of paragraph (3)(d) is reasonably necessary to address the national interest that is the basis for the exemption. When exemption comes into force  (5) An exemption comes into force at the start of the period specified for the purposes of paragraph (3)(d) (which must not be earlier than the day the exemption is made). Not a legislative instrument  (6) An exemption made under subsection (1) is not a legislative instrument.