The Minister may, subject to such conditions as he or she thinks fit, by instrument in writing, exempt an employer or class of employers from the operation of this Act or of a provision of this Act in respect of an employee, or class of employees specified by the Minister, if the Minister is satisfied that the employee or class of employees is entitled to benefits in the nature of long service leave under a scheme conducted by or on behalf of the employer or class of employers not less favourable than those provided by this Act.