Rule 6, which contains the exemptions to Rule 5 changed last month.
I'm not going to try and summarise it here but you can find it by clicking
here.
You get an exemption from the 500ft rule for take-off, landing, and practising approaches at a licensed, government or training aerodrome. For any other aerodrome the exemption does not include practising approaches.
This is basic air law that any licence holder should know.