(1) Notwithstanding anything contained in this Act, the Minister may, on the recommendation of the Commission, direct the Commission to forbear from applying any provision of this Act or its subsidiary legislation to a licensee or class of licensees, or to a person or class of persons, if the Minister determines that—
 

(a) the enforcement of such provision is not necessary to ensure the achievement of the objects of this Act;

 

(b) the enforcement of such provision is not necessary for the protection of consumers;

 

(c) the forbearance from applying such provision is consistent with the national interest; and

 

(d) the forbearance from applying such provision will not impede the administration of this Act.
 

(2) The direction by the Minister shall be made in accordance with section 7.