(1) The principal Regulations shall have effect only in so far as they apply in relation to any application made under them, and any participation in and entitlement under a scheme pursuant to such an application, being an application which–
(a) has been accepted by the Minister; or
(b) is an application (a “new application”) of a kind specified in regulation 3 below made before 30th September 1998 by a person–
(i) who, at the date of his new application, participates in a scheme as a consequence of a previous application for aid made by him which was accepted by the Minister; and
(ii) who has given undertakings under regulation 7 of the principal Regulations with respect to his current scheme, and in respect of a period of five years which at the date of his new application has not expired.
(2) In so far as, by virtue of paragraph (1) above, the principal Regulations continue to have effect, they shall apply with the modification specified in regulation 4 below and subject to the amendments made in regulations 5 to 14 below.