Winding up of schemes
3
1
Subject to the provisions of these regulations, each scheme to which these regulations apply shall cease to have effect:
Provided that each such scheme shall continue to apply in relation to the payment of benefits—
a
to any member or other person who had before the commencement of these regulations become entitled to benefits under it; and
b
to any person becoming entitled to benefits by virtue of the membership of a member to whom sub-paragraph (a) applies.
2
Nothing in this regulation shall affect the due discharge of any right, liability or obligation acquired or incurred in connection with the operation of any scheme to which these regulations apply (otherwise than in respect of the rights of any person as a member of the scheme) before the commencement of these regulations.