21   Exemption

(1)  The Governor may make regulations not inconsistent with this Act exempting, subject to such terms and conditions as are specified in the regulations:

(a)  persons belonging to any class of persons, or

(b)  contracts of insurance included in any class of contracts of insurance,

      specified in the regulations from all or any of the provisions of this Part as may be so specified in respect of that class of persons or that class of contracts of insurance.

(2)  Without limiting subsection (1), sections 18A and 18B do not apply to or in respect of:

(a)  contracts of marine insurance,

(b)  contracts of life insurance, or

(c)  those provisions of contracts of insurance to or in respect of which the Motor Vehicles (Third Party Insurance) Act 1942, the Workers Compensation Act 1987 or section 406 of the Legal Profession Act 2004, applies.