The Secretary of State may make provision by regulations for securing that where—
(apart from this section) a person is entitled to compensation under a statutory provision to which this section applies, and
the circumstances are such that he is also entitled to a redundancy payment,
the amount of the redundancy payment shall be set off against the compensation to which he would be entitled apart from this section; and any statutory provision to which any such regulations apply shall have effect subject to the regulations.
This section applies to any statutory provision—
which was in force immediately before 6th December 1965, and
under which the holders of such situations, places or employments as are specified in that provision are, or may become, entitled to compensation for loss of employment, or for loss or diminution of emoluments or of pension rights, in consequence of the operation of any other statutory provision referred to in that provision.