(1) On and from the commencement of section 3 of the Pensions (Amendment) Act, 2002, in respect of this section an occupational pension scheme which has as its only purpose the payment of additional voluntary contributions by a person who is the sole member of the scheme shall not be established and any such scheme which is purported to be established after such commencement shall be void.
(2) If a scheme does not include an option enabling the payment of voluntary contributions, the employer who operates such a scheme (the 'first scheme') shall, unless he operates another scheme which permits payment of voluntary contributions by members of the first scheme, subject to and in accordance with regulations, permit his employees who are members of the first scheme to participate in one or more than one Standard PRSA and such employees shall be 'excluded employees' for the purposes of subsections (1) and (2) of section 121.