; (2) restricts, limits, or conditions the ability of a customer or client of such entity to select or designate a forum for resolution of such dispute; or (3) restricts, limits, or conditions the ability of a customer or client to pursue a claim relating to such dispute in an individual or representative capacity or on a class action or consolidated basis. . (b) Application to existing agreements (1) In general With respect to an agreement described in section 205(f) of the Investment Advisers Act of 1940 that was entered before the date of the enactment of this Act, any provision prohibited by section 205(f) of the Investment Advisers Act of 1940 is void. (2) Ongoing arbitration A provision prohibited by section 205(f) of the Investment Advisers Act of 1940 shall not be void under paragraph (1) if arbitration required by such provision was initiated by any party on or before the date of the enactment of this subsection. 6. Application Except as otherwise stated, the amendments made by this Act shall apply with respect to any agreement entered into, modified, or extended after the date of the enactment of this Act.