7.—(1) The requirements imposed by these regulations shall not apply until 1st January 1982 to a contact lens substance when it is sold or supplied by, or so long as it is in the possession of, a person who, on 1st January 1980, is exempt—
(a)by virtue of section 16(2) or (3) of the Act from the requirement to hold a product licence relating to that substance, or
(b)by virtue of section 16(4) of the Act from the requirement to hold a manufacturer's licence relating to that substance.
(2) Subject to paragraph (3), the requirements imposed by these regulations shall not apply to a contact lens substance—
(a)until 1st July 1982, when it is sold or supplied by way of wholesale dealing or so long as it is in the possession of a person for the purpose of such sale or supply, and
(b)until 1st January 1983, when it is sold by retail or supplied in circumstances corresponding to retail sale or so long as it is in the possession of a person for the purpose of such sale or supply.
(3) The provisions of paragraph (2) shall not apply to a contact lens substance when it is sold or supplied by, or so long as it is in the possession of, a person who—
(a)has manufactured or assembled it, or
(b)in the case of an imported contact lens substance, has imported it or procured its importation, or
(c)in the case of a contact lens substance which has not been imported, is responsible for its composition.
(4) For the purposes of paragraph (3)(c) the responsibility of a person for the composition of a contact lens substance shall be determined by the application of section 7(6) of the Act to that substance as though it were a medicinal product the responsibility for the composition of which was being determined for the purposes of section 7(5) of the Act.