A one-year transitional period will commence on the date the Regulation comes into force. Licensees already holding an SVF License granted under the previous regulatory framework may continue operating without contravening this Regulation. Nevertheless, they are required to complete the implementation of the relevant measures set out in this Regulation by the end of the transition period.

The existing Licensees are required to submit an independent assessment report as prescribed in paragraphs 5 and 6 of Article (3) before the end of the transition period to ensure that they are in full compliance with this Regulation.