Upon an application of an interested person or company, the Commission may, where it is satisfied,
(a) that a class of investment or a particular investment represents the business judgment of responsible persons uninfluenced by considerations other than the best interests of an investment fund; or
(b) that a particular investment is in fact in the best interests of an investment fund,
order, subject to such terms and conditions as it may impose, that section 111 or 112 does not apply to the class of investment, particular investment, contract or other arrangement, as the case may be.