12Exemptions from provisions of Act

12 Exemptions from provisions of Act

(1)  The Minister may, in writing, grant an exemption from the provisions or specified provisions of this Act or from any direction given under section 6 in respect of –

(a) any specified person or class of persons; or

(b) any specified part of the State; or

(c) any specified class of transactions.

(2)  The Minister may, in writing, vary or revoke an exemption.

(3)  An exemption may be granted subject to such conditions as the Minister thinks fit.

(4)  A person in whose favour an exemption under this section operates must not contravene or fail to comply with a condition of the exemption.

Penalty:  Fine not exceeding 50 penalty units.