It may be a relay type regulator. They have two relays that (from memory) control voltage and current.
The voltage coil contacts are normally closed with the engine stopped. When the engine is started, current is applied to the field. The gen/alt then produces voltage and the relay operates if higher than the set voltage. This stops current flowing in the field and the voltage drops. This releases the relay and current flows again. The result is that the relay buzzes when regulating the voltage.
The current regulator is similar except that the gen/alt current flows through the coil of the relay. If the current exceeds the set current, the relay operates and cuts the current to the field. It also buzzes if the current is too high.
The regulation is adjusted by changing the distance that the contact arm is away from the relay pole. If the distance is greater, the higher the voltage or current required to operate the relay.
If you can post a picture of the gen/alt and regulator, it may be possible to identify it.
Cityfarma