50(1)Section 38 is amended as follows.E+W+S
(2)In subsection (1), for the words from “that the scheme” to the end there is substituted—
“(a)that the scheme is not for the time being to be wound up but that no new members are to be admitted to it, or
(b)that the scheme is not for the time being to be wound up but that no new members, except pension credit members, are to be admitted to it.”
(3)In subsection (2), the words from “but” to the end are omitted.
(4)After that subsection there is inserted—
“(2A)Subsection (2) does not authorise the trustees to determine—
(a)where there are accrued rights or pension credit rights to any benefit, that the benefit is not to be increased, or
(b)where the power conferred by that subsection is exercisable by virtue of a determination under subsection (1)(b), that members of the scheme may not acquire pension credit rights under it.”