There is no exemption from any law. The exemptions have to be relevant to the legislation or regulation the minister bringing forward the proposal is responsible for, so they're boxed in.
Secondly, there is no exemption from the Conflict of Interest Act. That still applies. The goal here is to allow ministers to create a sandbox for innovation and experimentation within the rule set that they are responsible for, and that drives experimentation and gives a chance to test things out. I know there's a lot of confusion about this rule set.