For an argument that the iterative conception implies something weaker than unrestricted Separation (implied by unrestricted Replacement), i.e. ∑2$\Sigma_2$ Replacement, see Randall Holmes 2001 http: //math.boisestate.edu/~holmes/holmes/sigma1slides.pshttp://math.boisestate.edu/~holmes/holmes/sigma1slides.ps. (According to Professor Holmes, “this contain[s] an error, which Kanamori pointed out to me and which I know how to fix.”)