(1) Subject to section 52, this Part shall apply to any scheme other than -
(a) a defined contribution scheme, or
(b) a small scheme under which service in the relevant employment after the 1st day of January, 1993, does not entitle the members to long service benefit and, where any long service benefit is determined by reference to a member's earnings, such earnings in the case of all members relate to a date or a period prior to the 1st day of January, 1993, or
(c) to such extent as may be prescribed, a small scheme the winding up of which has commenced.
(2) Notwithstanding subsection (1) but subject to paragraph (aa) -
(a) this Part shall apply to -
(i) a defined contribution scheme which is a regulatory own funds scheme,
(ii) a defined contribution scheme which is paying benefits to or in respect of members where those benefits are not secured under a policy or policies of assurance with one or more undertakings, and
(iii) a small scheme of the type referred to in paragraph (b) of
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