7. Exemption from disclosure requirements for directors and chief executive officers of corporation who are also substantial shareholders of corporation

A person who is or (if he has ceased to be one) had been a substantial shareholder in a corporation need not give notice of any of the following matters:

particulars of the voting shares in the corporation in which the person has or had an interest or interests and the nature and extent of that interest or those interests;

any change in the percentage level of the person’s interest or interests in voting shares in the corporation;

the person ceasing to be a substantial shareholder of the corporation,in accordance with sections 135(1), 136(1) and 137(1) of the Act, if he is required to give notice of such matter as a director or chief executive officer of the corporation under section 133(1) of the Act.