(1) A CEO exemption
may be granted on the volition of the CEO or on an application.
(2) A CEO exemption
may be varied or cancelled —
(a) on
the volition of the CEO —
(i)
in urgent circumstances, under regulation 465; or
(ii)
other than in urgent circumstances, under
regulation 466;
or
(b) on
the application of a person to whom the exemption applies or a person who has
sufficient interest in the vehicle to which the exemption applies.