; (2) restricts, limits, or conditions the ability of a customer or client of the investment adviser to select or designate a forum for resolution of that dispute; or (3) restricts, limits, or conditions the ability of a customer or client of the investment adviser to pursue a claim relating to that 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 ( 15 U.S.C. 80b–5(f) ), as amended by subsection (a) of this section, that was entered into before the date of enactment of this Act, any provision prohibited by such section 205(f), as amended by subsection (a) of this section, is void. (2) Ongoing arbitration A provision of an agreement prohibited by section 205(f) of the Investment Advisers Act of 1940 ( 15 U.S.C. 80b–5(f) ), as amended by subsection (a) of this section, shall not be void under paragraph (1) if arbitration required by that provision was initiated by any party on or before the date of enactment of this Act. 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 enactment of this Act.