(1) This section applies to relevant schemes that came into operation before 1 June 2002.

(2) The actuary shall determine the percentage, if any, of the benefits under a scheme to which paragraph 5 of the Third Schedule relates that, in his opinion, could have been provided at the effective date of the first actuarial funding certificate having an effective date after 1 June 2002 in relation to the scheme from the resources of the scheme if -

(a) the scheme had been wound up on that date, and

(b)

(i) the liabilities of the scheme for benefits under the scheme specified in subparagraphs (i), (ii), (iii) and (iv) of paragraph (a) of section 44(1), and

(ii) the estimated expenses of administering a winding up,

had already been discharged from resources of the scheme.