; and (bb) that contains only the pooled investment funds of alien investors in a new commercial enterprise with respect to a single capital investment project. . (c) Effective dates (1) In general Except as provided in paragraph (2), the amendments made by this section shall be effective at any time after the date of the enactment of this Act, as determined by the Secretary, and shall be effective not later than 90 days after such date of enactment. (2) Exceptions (A) Clauses (iv) and (v) of subparagraph (H) of section 203(b)(5) of the Immigration and Nationality Act ( 8 U.S.C. 1153(b)(5) ), as inserted by subsection (b), shall not apply to a petition that— (i) was filed by an alien investor under such section 203(b)(5) prior to June 1, 2015; (ii) was filed by an alien investor under such section 203(b)(5) during the period beginning on June 1, 2015, and ending on the date of the enactment of this Act if such beneficiary is investing in the same commercial enterprise concerning the same economic activity as contained in an exemplar filed prior to June 1, 2015, or approved by the Secretary of Homeland Security at any time prior to the date of enactment of this Act, unless the Secretary determines that such approval or filing was based on fraud, misrepresentation in the record of proceeding, or is legally deficient