The Act and the provisions of the Act specified in Schedule 1 apply subject to the modifications specified in Schedule 1 to and in relation to the person who:
(a) on 7 July 1977, holds the office of the Chairman of the Tertiary Education Commission and becomes an eligible employee by virtue of a direction given by the Commissioner in respect of him under section 14 of the Act; and
(b) was, immediately before so
becoming an eligible employee, by virtue of an agreement made
on 22
December 1971 between himself and the Commonwealth, a member of a
superannuation scheme.