59F.—(1) This section shall apply to—
(a) any amendment to the rules of a scheme, and
(b) any exercise of any discretionary power under a scheme,
which has the effect of augmenting the benefit of any member or members so as materially to alter the balance of interests between the members, or between the members and the employer or employers (other than an amendment or exercise made or done pursuant to section 50) which is made or done—
(i) within twelve months before or six months after—
(I) the making of a bulk transfer within the meaning of section 59E,
(II) the making of an agreement or arrangement relating to or connected with the sale of all or part of the business or interests of a person, being the employer of any employees who are members of the scheme,
(III) the making of an agreement or arrangement relating to or connected with the purchase by a person, being the employer of any employees who are members of the scheme, of all or part of the business or interests of another person or persons, where, pursuant to that purchase, the trustees or the said employer propose or are required to take any action in relation to the scheme, or
(IV) the making of any amendment to the rules of the scheme which would cause the scheme or any part of it to become a defined contribution scheme,
(ii) within twelve months before, or at any time after, the winding-up of the scheme.
(2) Regulations may provide that any amendment of rules, or any exercise of a power to which this section applies shall be invalid unless—
(a) the members affected by the amendment have consented in writing to the amendment,
(b) the actuary has provided a certificate to the trustees containing such statements by the actuary in respect of such matters as may be prescribed,
(c) the trustees are satisfied that the changes effected by such amendment or exercise were not effected with a view to altering materially the balance of interests under the scheme between members or groups of members, or between members and the employer or employers, by reason only of the fact that the bulk transfer, arrangements or agreement or winding-up had taken place or were to take place, as the case may be, or
(d) such other conditions as may be prescribed are satisfied.
(3) No legal proceedings shall lie against a person by reason only of anything which that person has done or omitted to do in reliance in good faith on an amendment of rules or exercise of a power rendered invalid by virtue of regulations under subsection (2).
(4) No person who receives any money under a scheme in reliance in good faith on an amendment of rules or exercise of a power rendered invalid by virtue of regulations under subsection (2) shall be required to repay such money.”.