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73. In the case of a scheme to which section 23(2) and (3) of the 1993 Act(1) applies (schemes where winding up began before the principal appointed day)—
(a)regulation 40 (priorities on the winding-up of a scheme) of the Occupational Pension Schemes (Contracting-out) Regulations 1984(2) shall continue to have effect, and
(b)the resources of the scheme must be sufficient to meet the liabilities specified in section 24(1)(c) of the 1993 Act, such resources and liabilities being calculated, determined and verified in a manner approved by the Secretary of State.
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