(1) This regulation applies to a management agreement which is entered into on or after the commencement date.
(2) A management agreement to which this regulation applies must provide that where a requirement is imposed under section 247(2) or 249(2) of the Housing and Regeneration Act 2008 (requirement to put management out to tender or transfer management)—
(a) the authority and the manager must make arrangements for the transfer of management functions from the manager, and
(b) the authority and the manager must determine the agreement,
so far as necessary to ensure that the agreement does not continue to have effect as respects management functions which are the subject of the requirement.