This part applies to a budget accommodation building only if—
(a) construction of the building started before 1 January 1992; or
(b) construction of the building was—(i) approved, under this Act, before 1 January 1992; and(ii) started on or after 1 January 1992; or
(c) an application for approval to construct the building—(i) was made, under this Act, before 1 January 1992; and(ii) the approval was given on or after 1 January 1992.