(a) Unless otherwise indicated in the regulation, a regulation adopted under this Division II applies to a procurement contract if:

(1) the regulation is in effect on the day that the parties execute the procurement contract; and

(2) the procurement contract is governed by this Division II.

(b) A regulation adopted under this Division II does not affect the rights of a unit or contractor under a procurement contract that was entered into before the effective date of the regulation.

(c) A requirement of law that a procurement contract contain a particular provision is satisfied if the procurement contract includes notice of the provision, including the subject matter of the provision.