8.—(1) Where an active pensioner, a rejoining pensioner, an active deferred member or a rejoining deferred member has not made an election under regulation 31(1) of the 2002 Regulations–
(a)Part III of Schedule C4 to the 2000 Regulations (limitations on benefits) shall continue to apply as respects the benefits derived from his membership before the commencement date; and
(b)Schedule 4 to the 2002 Regulations shall only apply as respects his membership after that date.
(2) Sub-paragraph (1) ceases to apply to an active deferred member or a rejoining deferred member as respects any part of his former membership which he elects under regulation 34(1) of the 2002 Regulations to aggregate with later membership; and accordingly Schedule 4 to the 2002 Regulations shall apply as respects all benefits payable to or in respect of him in relation to the membership aggregated.