A rule adopted or order issued under this act may exempt a security, transaction, or offer; a rule under this act may exempt a class of securities, transactions, or offers from any or all of the requirements of sections 409.3-301 to 409.3-306 and 409.5-504; and an order under this act may waive, in whole or in part, any or all of the conditions for an exemption or offer under sections 409.2-201 and 409.2-202.