I reviewed the circuit again and I find that I mistook Q1 for a PNP instead of an NPN.. (I would have drawn an NPN the other way around.)
That inverts the function and it could look like it becomes a ripple filter, but..
However; when the voltage is below the treshold, A1 output is low and Q1 does not conduct, R1 charges C1 and R2 charges C2 (to full supply voltage).
When the voltage goes above the treshold, A1 output goes high and Q1 conducts, thereby series-connecting the capacitors, increasing the power supply voltage by 50%.
The process seems not to repeat by itself.
I still don't quite see the point of the circuit, actually even less.. It would be interesting to see some of the text and the rest of the circuits associated with it.
And why don't someone run this in a simulation?
There's no problem in placing questions about anything, even the best can make mistakes, I just rewrote this reply completely more than 3 times!