(a) Except as otherwise in this subchapter specifically provided, this subchapter shall not apply to the following cases:

(1) Administering, dispensing, or selling at retail any drug subject to this subchapter under any circumstances that the Director of the Department of Health determines, after reasonable notice and opportunity for hearing, not to be dangerous to the public health, or promotive of addiction-forming or addiction-sustaining results upon the user, or harmful to the public health, safety, or morals, and by order so proclaims. In arriving at his determination, the Director of the Department of Health shall consult with the Drug Enforcement Administration of the Treasury Department of the United States and give due weight to its investigations and determinations;

(2) Administering, dispensing, or selling at retail any medicinal preparation that contains in one (1) fluid ounce, or if a solid or semisolid preparation, in one (1) avoirdupois ounce, not more than one (1) grain of codeine or of any of its salts. The exemptions authorized by this subdivision (a)(2) are subject to the following conditions:

(A) That the medicinal preparation administered, dispensed, or sold contains, in addition to the narcotic drug in it, some drug or drugs conferring upon it medicinal qualities other than those possessed by the narcotic drug alone; and

(B) That the preparation is administered, dispensed, purchased, and sold in good faith as a medicine and not for the purpose of evading the provisions of this subchapter.

(b) Nothing in this section shall limit the quantity of codeine or of any of its salts that may be prescribed, administered, dispensed, or sold to any person or for the use of any person or animal, when it is prescribed, administered, dispensed, or sold, in compliance with the general provisions of this subchapter.