condition, or limitation of exemptions. A. Except with respect to a federal covered security or a transaction involving a federal covered security, an order under this act may deny, suspend application of, condition, limit, or revoke an exemption created under subparagraph c or d of paragraph 3 of Section 1-201 of this title, or paragraph 7 or 8 of Section 1-201 of this title or Section 1-202 of this title or an exemption or waiver created under Section 1-203 of this title with respect to a specific security, transaction, or offer. An order under this section may be issued only pursuant to the procedures in subsection D of Section 1-306 or Section 1-604 of this title and only prospectively. B. A person does not violate Section 1-301, 1-504 or 1-510 of this title by an offer to sell, offer to purchase, sale, or purchase effected after the entry of an order issued under this section if the person did not know, and in the exercise of reasonable care could not have known, of the order.
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