10.—(1) Provision made before the appointed day under subsection (6) of section 120 of the 1983 Act with the approval of the Treasury shall, on and after the appointed day, be treated as provision made by the regulatory authority under subsection (8) of section 120 (as substituted by paragraph 8 of Schedule 3 to the Act).
(2) Provision made before the appointed day under subsection (6) of section 120 of the 1983 Act by Welsh Ministers shall, on and after the appointed day, be treated as provision made by the Welsh Ministers under subsection (8) of section 120 (as substituted by paragraph 8 of Schedule 3 to the Act).
(3) Sub-paragraph (2) does not apply in relation to pensions(1).
Under Schedule 1 to S.I. 1999/672 provision by Welsh Ministers under section 120(6) of the 1983 Act in relation to pensions required the approval of the Treasury and therefore falls within sub-paragraph (1).