So there is a problem in making an exemption after industry has complained is there? Did you not read the explanatory statement?
"It is expected that a regulatory amendment to expand the definition ..... will be made in due course, after which time this instrument will no longer be required."
I.e they have issued the exemption because it is quicker than changing the regulation.
If the instrument expires and the regulation doesn't get changed then you will see me get angry about it. For now it is a step in the right direction as opposed to another backwards step.
I've had a lot of dealings with the regulator, some good some not so. They haven't made me as sour as they have evidently made some others!