(1) The regulations may make provision for and in relation to:
(a) contributions to be paid to the Commonwealth by persons (including persons who have ceased to be employed under Part II in specified circumstances) who, immediately before the prescribed date, were required or permitted to contribute to the Papua New Guinea Superannuation Fund or the Papua New Guinea Provident Account under the Superannuation Ordinance;
(b) payments to be made by the Commonwealth to and in relation to:
(i) persons referred to in paragraph (a); and
(ii) persons who, immediately before the prescribed date, were entitled to pension in accordance with the Superannuation Ordinance or in accordance with the Superannuation Ordinance 1917 - 1955 of the Territory of Papua or the Superannuation Ordinance 1928 - 1955 of the Territory of New Guinea, as the case may be; and
(c) matters incidental to or connected with matters referred to in paragraphs (a) and (b).