728. Notice requiring information: persons exempted from obligation to comply

(1) A person is not obliged to comply with a notice under section 725 (notice requiring information about interests in company's shares) if he is for the time being exempted by the Registrar from the operation of that section.
(2) The Registrar must not grant any such exemption unless it is satisfied that, having regard to any undertaking given by the person in question with respect to any interest held or to be held by him in any shares, there are special reasons why that person should not be subject to the obligations imposed by that section.