👉 The term "exemptive" is a legal term that refers to something that is not required or obligatory. It implies that the law does not require an individual or entity to perform certain actions, such as paying taxes, obtaining licenses, or complying with certain regulations. In other words, if someone is exempt from performing certain obligations under the law, it means they are not subject to those requirements and can do what they want without facing any consequences. This concept has been used in various legal contexts,
