3.—(1) No penalty shall be imposed by the Commission on a party to an agreement made on or before 31st July 2005, for an infringement by the agreement of the section 34 prohibition —
(a)
during the transitional period;
(b)
subject to regulations 6 (3) and 7(1) and (2), during any extension of the transitional period granted to the party;
(c)
subject to regulation 7, where the party has made an application and the Commission notifies its decision on the application on or after 1st July 2006, during the interim period; and
(d)
subject to regulation 7(4), where the party has made an application and the application is refused, during any period specified by the Commission under regulation 5(4) or by the Board under section 73(8) of the Act on an appeal under regulation 9, for the party to bring the infringement to an end.
(2) Paragraph (1) does not apply to any infringement by any agreement of the section 34 prohibition which continues or occurs after the expiry of the applicable period referred to in paragraph (1).