Exemptions.

The Government may by notification, exempt from the operation of any of the provision of this Act or any of the rules made thereunder,— (a) any charitable institution or endowment the administration of which was or is for the time being vested,— (i) in the Government either directly or through a Committee or Treasurer of Endowments, appointed for the purpose; (ii) in the official Trustee or in the Administrator General; (b) any charitable institution or endowment founded for educational purpose or for providing medical relief; or (c) any institution or endowment which is being well managed by the founder; or (d) any institution or endowment; and may likewise vary or cancel such exemption.