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Well if you put a bridge rectifier before the left 100uF capacitor and increased that capacitor to 2200uf or higher then yes it would work but would still give you a DC output.
That is a 12.7V zener to give 12V out; so, you need a 15.7V for 15V to account for the usual 0.7V BE differential to turn the transistor on. See here: https://en.wikipedia.org/wiki/Current_source
John
well thanks all for their inputs
Why bridge? Why not a single diode would work?