(a) This subchapter is effective July 12, 2001.(b) By September 10, 2001, a covered entity shall provide an initial notice, as required by §22.8 of this title (relating to Initial Privacy Notice), to consumers who are the covered entity's customers on September 10, 2001. For example, a covered entity provides an initial notice to consumers who are its customers on September 10, 2001, if, by that date, the covered entity has established a system for providing an initial notice to all new customers and has mailed the initial notice to all the covered entity's existing customers.(c) Until September 10, 2002, a contract that a covered entity has entered into with a nonaffiliated third party to perform services for the covered entity or functions on the covered entity's behalf satisfies the provisions of §22.17(a)(1)(B) of this title (relating to Exception to Opt Out Requirements for Disclosure of Nonpublic Personal Financial Information for Service Providers and Joint Marketing), even if the contract does not include a requirement that the third party maintain the confidentiality of nonpublic personal financial information, so long as the covered entity entered into the agreement on or before September 10, 2000.