For section 48 substitute—

“48Supervision of former salary related contracted-out schemes

Section 49 shall apply for the purpose of making provision for securing the continued supervision of any scheme that was a salary related contracted-out scheme, other than a public service pension scheme, if any person is entitled to receive or has accrued rights to—

(a)

a guaranteed minimum pension under the scheme, or

(b)

a pension under the scheme attributable to service on or after the principal appointed day but before the scheme ceased to be contracted-out.”.