Section 11(1) (valuations) does not require scheme regulations to provide for actuarial valuations to be made of a scheme to which this section applies.

Section 12(1) (employer cost cap) does not apply to a scheme to which this section applies.

For the purposes of this section a scheme under section 1 is a “restricted scheme” at any time if any statutory provision restricts the provision of benefits under the scheme to or in respect of a person in relation to the person’s service after that time.

Regulations made by the Department of Finance under this section may include consequential or supplementary provision.

Regulations made by the Department of Finance under this section are subject to negative resolution.