42.4(1)The Superintendent shall not record an exemption under section 42.1 before the expiration of forty-five days after the date of submission to the Superintendent of the documents set out in subsection 42.2(7), but after the expiration of the forty-five-day period the Superintendent shall record the exemption.

42.4(2)After the exemption is recorded under subsection (1), the exemption under section 42.1 becomes effective.