The Act and the provisions of the Act specified in Schedule 5 apply subject to the modifications specified in that Schedule to and in relation to the person who:
(a) on 4 December 1984, holds the office of the Chairman of the Advanced Education Council and becomes an eligible employee by virtue of a direction given by the Commissioner under subsection 14 (1) of the Act; and
(b) was, before so becoming an eligible employee, a member of the superannuation scheme constituted by the Superannuation Act, 1974 of the State of South Australia.