(a) Except as provided in paragraph (b) of this section and otherwise in this part, the regulations in this part apply from February 13, 2020.

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(b) The regulations in this part do not apply to any transaction for which:

(1) The completion date is prior to February 13, 2020; or

(2) The parties to the transaction have executed, prior to February 13, 2020, a binding written agreement, or other binding document, establishing the material terms of the transaction.