965.9.6. For the purposes of sections 965.9.4 and 965.9.5, a share or a negotiable instrument does not include,(a) where the issuing corporation carries on the activities of a dealer within the meaning of the Securities Act (chapter V-1.1), such property held in inventory; (b) where the issuing corporation is a corporation referred to in section 965.11.1, such property issued by a corporation described in paragraph d of the said section in whose administration it participates.