Savings and transitional provisions
4.—(1)  An option which has been granted by a developer prior to the commencement of these Regulations to any person for the purchaser of any housing accommodation in any executive condominium scheme shall continue to be in force as if these Regulations had not been made until the option has lapsed or has been exercised by the intending purchaser.
(2)  Where a purchaser of any housing accommodation in an executive condominium scheme under an agreement made before the date of commencement of these Regulations assigns on or after that date all his right, title or interest under that agreement, the new agreement with the assignee for the sale and purchase of that housing accommodation shall be in the new form prescribed by these Regulations.
(3)  Nothing in these Regulations shall require the Singapore Academy of Law established under the Singapore Academy of Law Act (Cap. 294A) to act as stakeholder under any agreement for the sale and purchase of any housing accommodation in an executive condominium scheme if it was made before the commencement of these Regulations.