91.This section gives the Treasury the power by order to exempt specific natural or legal persons or classes of person from the general prohibition and therefore from the need to be authorised.
92.Subsection (2) provides that a person may not benefit from an exemption under an order made under this section if they hold a Part IV permission.  However, if they cease to hold a Part IV permission and the exemption from which they formerly benefited is still extant, they may benefit from it again.
Commentary on Sections Part Iii: Authorisation and Exemption Section 38: Exemption orders