The Secretary of State1 may, in relation to any replacement pension scheme for employees transferred to the private sector2, and any prescribed scheme the establishment of which appears to the Secretary of State to be, or to have been required, for the purposes of any protection to which any person is entitled3, impose by regulations4 such restrictions and obligations as appear to him to be appropriate for the purpose of securing:
(1) that no person entitled to protection in relation to such a scheme is placed in any worse position5 by reason of (a) any such amendment of the
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