The following classes of persons are exempted from the operation of section 14(1)(a)(i) of the Act—
(a) a person who has passed a course of instruction and the relevant examinations described in Schedule 3 within the 5 years immediately preceding the date of the person's application for an estate agent's licence; or
(b) a person who has passed a course of instruction and the relevant examinations described in Schedule 3 at any time and, within the 10 years immediately preceding the date of their application for an estate agent's licence, either—
(i) has held an estate agent's licence; or
(ii) was employed as an agent's representative for the equivalent of at least 2 years full time.