(1) The Regulations referred to in regulation 8 continue to apply, in place of regulations 1-7 of these Regulations, and the amendments in regulation 9 do not apply, in the case of a regulated consumer credit agreement entered into before the date on which these Regulations come into force -
(a) until 31st May 2007, if the agreement is for a term of 10 years or less;
(b) until 31st May 2010, if the agreement is for a term of more than 10 years.
(2) For the purposes of paragraph (1), the term of an agreement is the term originally provided for, or, in the case where the term was varied before the date on which these Regulations are made, the term provided for on that date.