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Yes. There vessel may exempt of the lifeboats. All will depend of the convention, trading area, type of vessel, service and another matters.
I'm working to Panama Maritime Flag Authority and I issue exemption certificates (COLREG, SOLAS, Load Line, MODU Code 79,89,09, MARPOL etc) everyday. The exemption certificates are granted by this administration as long as it is permitted by the convention.
If you require manage a exemptions certificates for your vessel, I can grant you my services and experience in Maritime flags and Recognized Organizations.
Regards.
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Recently on my visit to Montreal I was informed my the Transport Canada Inspector that the ships plying in Great Lakes are not required to carry LifeBoats.
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SOLAS Chapter III Reg 2 - Exemptions; Gives Flag state the legal authority under this convetion to exempt an individual ship or class of ships to comply with any specific requirements of Chapter III of SOLAS, if the vessel does not proceed more than 20Nm from the nearest land and there are sheltered anchorages in the vicinity.
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Ok. You must to contact to Port State Authoritiers regarding that exemption. Most likely, you shall fulfill with equivalence or alternative safety arrangement onboard instead indicated by canadian maritime authorities in order to exempt of lifeboats onboard. Nevertheless captain, take in consideration the contract of the vessel, if your vessel solely trades in Great Lakes, proceed accordingly.