(aa) taking off from, landing at or practising approaches to landing at; or
(bb) checking navigational aids or procedures at,
a Government or licensed aerodrome.
(ii) Any aircraft shall be exempt from the 500 feet rule when landing and taking-off in
accordance with normal aviation practice or air-taxiing.
So if I approach a licensed aerodrome with a view to land, but go-around for safety reasons, this is legal. However, if I intend to land at a short farm strip but for safety reasons elect to go-around, then I am at risk of breaking the 500 foot rule if there are any structures close by?