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• 2 (1) Subject to subsection (2) and section 3, these Regulations apply to a person who, by reason of an agreement between Her Majesty in right of Canada and a new employer, ceases to be employed in the Public Service and becomes employed by the new employer on or after May 1, 1998.

• (2) These Regulations do not apply to a person

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10 These Regulations come into force on May 1, 1998.

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• (2) Despite subsection (1), where, on or after May 1, 1998 a person would be eligible, were it not for these Regulations, to exercise an option under subsection 12(3), paragraph 13(7)(a) or (b) or section 13.01 of the Act, the person may exercise such an option no later than one year after the date on which the person ceases to be employed in the Public Service and becomes employed by the new employer.

• (3) A person who has exercised an option under subsection (2) is deemed not to have become employed by the new employer for the purposes of these Regulations and of sections 83 to 99 of the Public Service Superannuation Regulations and is not entitled to exercise an option pursuant to subsection (1) when the person ceases to be employed by the new employer.

1 The definitions in this section apply in these Regulations.