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47.—(1) Except as otherwise provided in this Part, for the purposes of Part 2 of the Act, except Chapter 4, as it applies in the case of a segregated part to which regulation 45 applies, references to “an eligible scheme” shall be read as if they were references to a segregated part of the scheme in circumstances where that segregated part, if it were a scheme, would not be—
(a)a money purchase scheme; or
(b)a scheme which is a prescribed scheme or a scheme of a prescribed description under section 126(1)(b) of the Act.
(2) Paragraph (1) above shall not apply for the purposes of sections 174 to 181 of the Act (the levies).
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