A person is exempt in relation to an activity the person undertakes on behalf of a foreign principal if:
(a) for a person other than an individual:
(i) the person's purpose is, or relates primarily to, the arts; and
(ii) the activity is, or relates primarily to, or is incidental to, the person's artistic purposes; and
(b) for an individual--the person's purpose in undertaking the activity is, or relates primarily to, or is incidental to, the arts; and
(c) the activity is not disbursement activity; and
(d) at the time the activity is undertaken, both of the following matters are either apparent to the public or disclosed to the public:
(i) the fact that the person is undertaking the activity on behalf of a foreign principal;
(ii) the identity of the foreign principal.