44Commission may grant exemptions

#### 44 Commission may grant exemptions (1) The Commission may, on application by: (a) a person, on that person’s own behalf or on behalf of that person and another person or other persons; (b) 2 or more persons, on their own behalf or on behalf of themselves and another person or other persons; or (c) a person or persons included in a class of persons on behalf of the persons included in that class of persons; by instrument in writing, grant to the person, persons or class of persons, as the case may be, an exemption from the operation of a provision of Division 1 or 2, or paragraph 41(1)(e), or paragraph 41B(1)(b), as specified in the instrument. (2) The Commission may, on application by a person to, or in respect of, whom an exemption from a provision of Division 1 or 2, or paragraph 41(1)(e), has been granted under subsection (1), being an application made before the expiration of the period for which that exemption was granted, grant a further exemption from the operation of that provision. (3) An exemption, or further exemption, from the operation of a provision of Division 1 or 2, or paragraph 41(1)(e) or paragraph 41B(1)(b): (a) may be granted subject to such terms and conditions as are specified in the instrument; (b) may be expressed to apply only in such circumstances, or in relation to such activities, as are specified in the instrument; and (c) shall be granted for a specified period not exceeding 5 years.