Commonwealth Consolidated Acts Commonwealth Consolidated Acts(1) The Regulator may, in writing, exempt from compliance with any or all of the modifiable provisions:
(a) a particular person or a class of persons; or
(b) a particular group of individual trustees or a class of groups of individual trustees.
(2) An exemption that applies to a particular person or group is not a legislative instrument.
(3) Otherwise, an exemption is a legislative instrument.