The offense described in subsection (1) of this section shall not apply to:
(a) An entity, or any employee thereof engaged in his or her employment duties, that manufactures large-capacity magazines within Colorado exclusively for transfer to, or any licensed gun dealer, as defined in section 18-12-506 (6), or any employee thereof engaged in his or her official employment duties, that sells large-capacity magazines exclusively to:
(I) A branch of the armed forces of the United States;
(II) A department, agency, or political subdivision of the state of Colorado, or of any other state, or of the United States government;
(III) A firearms retailer for the purpose of firearms sales conducted outside the state;
(IV) A foreign national government that has been approved for such transfers by the United States government; or
(V) An out-of-state transferee who may legally possess a large-capacity magazine
(b) An employee of any of the following agencies who bears a firearm in the course of his or her official duties:
(I) A branch of the armed forces of the United States; or
(II) A department, agency, or political subdivision of the state of Colorado, or of any other state, or of the United States government; or
(c) A person who possesses the magazine for the sole purpose of transporting the magazine to an out-of-state entity on behalf of a manufacturer of large-capacity magazines within Colorado.