It's definitely an interesting question. We spoke to the DVLA but couldn't get a definitive answer, I'm afraid. A spokesman said, 'We would assess applications such as these on a case-by-case basis, and would not be able to advise on the specifics of the individual case without having all the relevant information.' However, the exemption is based on build date not registration so I don't see that there would be a problem. Definitely best to get in touch with the DVLA sooner rather than later, though, as it can be a slow process if they ask for paperwork or a inspection from a club etc.