diff --git a/derive-impl/src/pyclass.rs b/derive-impl/src/pyclass.rs
index cd5bbc9a4..182286e5b 100644
--- a/derive-impl/src/pyclass.rs
+++ b/derive-impl/src/pyclass.rs
@@ -471,7 +471,7 @@ pub(crate) fn impl_define_exception(exc_def: PyExceptionDef) -> Result<TokenStre
     // spell-checker:ignore initproc
     let init_method = match init {
         Some(init_def) => quote! { #init_def(zelf, args, vm) },
-        None => quote! { #base_class::init(zelf, args, vm) },
+        None => quote! { #base_class::slot_init(zelf, args, vm) },
     };
 
     let ret = quote! {
@@ -499,8 +499,8 @@ pub(crate) fn impl_define_exception(exc_def: PyExceptionDef) -> Result<TokenStre
             }
 
             #[pyslot]
-            #[pymethod(magic)]
-            pub(crate) fn init(
+            #[pymethod(name="__init__")]
+            pub(crate) fn slot_init(
                 zelf: PyObjectRef,
                 args: ::rustpython_vm::function::FuncArgs,
                 vm: &::rustpython_vm::VirtualMachine,
diff --git a/vm/src/exceptions.rs b/vm/src/exceptions.rs
index 9620423a1..0e9ef96d1 100644
--- a/vm/src/exceptions.rs
+++ b/vm/src/exceptions.rs
@@ -11,7 +11,7 @@ use crate::{
     py_io::{self, Write},
     stdlib::sys,
     suggestion::offer_suggestions,
-    types::Callable,
+    types::{Callable, Constructor, Initializer},
     AsObject, Context, Py, PyObjectRef, PyPayload, PyRef, PyResult, TryFromObject, VirtualMachine,
 };
 use crossbeam_utils::atomic::AtomicCell;
@@ -414,7 +414,7 @@ macro_rules! extend_exception {
     };
 }
 
-#[pyclass(flags(BASETYPE, HAS_DICT))]
+#[pyclass(with(Constructor, Initializer), flags(BASETYPE, HAS_DICT))]
 impl PyBaseException {
     pub(crate) fn new(args: Vec<PyObjectRef>, vm: &VirtualMachine) -> PyBaseException {
         PyBaseException {
@@ -426,21 +426,6 @@ impl PyBaseException {
         }
     }
 
-    #[pyslot]
-    pub(crate) fn slot_new(cls: PyTypeRef, args: FuncArgs, vm: &VirtualMachine) -> PyResult {
-        PyBaseException::new(args.args, vm)
-            .into_ref_with_type(vm, cls)
-            .map(Into::into)
-    }
-
-    #[pyslot]
-    #[pymethod(magic)]
-    pub(crate) fn init(zelf: PyObjectRef, args: FuncArgs, vm: &VirtualMachine) -> PyResult<()> {
-        let zelf: PyRef<Self> = zelf.try_into_value(vm)?;
-        *zelf.args.write() = PyTuple::new_ref(args.args, &vm.ctx);
-        Ok(())
-    }
-
     pub fn get_arg(&self, idx: usize) -> Option<PyObjectRef> {
         self.args.read().get(idx).cloned()
     }
@@ -532,6 +517,25 @@ impl PyBaseException {
     }
 }
 
+impl Constructor for PyBaseException {
+    type Args = FuncArgs;
+
+    fn py_new(cls: PyTypeRef, args: FuncArgs, vm: &VirtualMachine) -> PyResult {
+        PyBaseException::new(args.args, vm)
+            .into_ref_with_type(vm, cls)
+            .map(Into::into)
+    }
+}
+
+impl Initializer for PyBaseException {
+    type Args = FuncArgs;
+
+    fn init(zelf: PyRef<Self>, args: Self::Args, vm: &VirtualMachine) -> PyResult<()> {
+        *zelf.args.write() = PyTuple::new_ref(args.args, &vm.ctx);
+        Ok(())
+    }
+}
+
 impl ExceptionZoo {
     pub(crate) fn init() -> Self {
         use self::types::*;
@@ -1119,6 +1123,7 @@ pub(super) mod types {
         builtins::{traceback::PyTracebackRef, PyInt, PyTupleRef, PyTypeRef},
         convert::ToPyResult,
         function::FuncArgs,
+        types::{Constructor, Initializer},
         PyObjectRef, PyRef, PyResult, VirtualMachine,
     };
     use crossbeam_utils::atomic::AtomicCell;
@@ -1371,7 +1376,7 @@ pub(super) mod types {
 
             new_args.args.truncate(2);
         }
-        PyBaseException::init(zelf, new_args, vm)
+        PyBaseException::slot_init(zelf, new_args, vm)
     }
 
     define_exception! {