(1) In order to ensure the establishment of arrangements for the involvement of employees in the SE, the Standard Rules set out in Schedule 1 shall apply, from the date of its registration, to an SE if its registered office is located in the State and -

(a) the parties so agree, or

(b) no agreement has been concluded within the time limit specified in Regulation 14 and -

(i) the competent organs of each of the participating companies decide to accept the application of the Standard Rules in relation to the SE and so to continue with its registration of the SE, and

(ii) the special negotiating body has not made a decision under Regulation 11(1).

(2) The Standard Rules set out in Part 3 of Schedule 1 shall only apply -

(a) in the case of an SE established by transformation, if the company which is transformed into an SE was subject to provisions regarding employee participation in the administrative or supervisory body;