Social Welfare and Pensions Act 2007

SCHEDULE 2

Amendments to Pensions Act 1990

PART 1

Amendments relating to Trust Retirement Annuity Contracts

Provision affected

Amendment

(1)

(2)

Section 2(1)

( a) In the definition of “auditor”, insert “, trust RAC” after “scheme” where it occurs.

( b) Substitute the following for the definition of “member”:

“‘member’ means—

( a) in relation to a scheme, subject to sections 62 and 154, any person who, having been admitted to membership under the rules of the scheme, remains entitled to any benefit under the scheme in respect of a period of service whilst employed within the State,

( b) in relation to a trust RAC, any person whose occupational activities entitle or will entitle the person to retirement benefits (within the meaning of Article 6 of the Directive) in accordance with the rules of the trust RAC;”.

( c) In the definition of “resources”, insert “or trust RAC” after “scheme” where it occurs.

( d) In the definition of “rules”, insert “or trust RAC” after “scheme” where it occurs.

( e) Insert the following after the definition of “small scheme”:

“‘small trust Retirement Annuity Contract’ or ‘small trust RAC’ means a trust RAC which has less than 100 members;

‘trust Retirement Annuity Contract’ or ‘trust RAC’ means a trust scheme within the meaning of section 784(4) of the Taxes Consolidation Act 1997 which has been approved by the Revenue Commissioners for the purposes of section 784(4) or 785(5) of that Act or the application for approval of which under either of those provisions is being considered;”.

( f) Substitute the following for the definition of “trustees”:

“‘trustees’, means—

( a) in relation to a scheme which is established under a trust or a trust RAC, the trustees of the scheme or trust RAC,

( b) in relation to a scheme established otherwise than under a trust, the administrator of the scheme and, accordingly, references to trustees shall, except in sections 59, 59A, 62, 63 and 64, be construed as including references to administrators.”.

Section 3

( a) In subsection (1)( a)(iv), insert “or an auditor of a trust RAC” after “PRSA”.

( b) In subsection (2A)( b), insert “, trust RAC” after “scheme”.

Section 3B(2)

In paragraph ( c), insert “or trust RAC” after “scheme” where it occurs.

Section 4

In subsections (1) and (3), insert “, trust Retirement Annuity Contracts” after “occupational pension schemes” where it occurs.

Section 5

In subsection (5), insert “, trust RAC” after “scheme”.

Section 10(1)

In paragraphs ( c)(i), ( d) and ( e), insert “and trust RACs” after “schemes” where it occurs.

Section 18

Insert “or trust RAC” after “scheme” where it occurs.

Section 25

( a) Insert “or trust RAC” after “scheme” where it occurs.

( b) Insert “or trust RACs” after “schemes”.

Section 54

( a) Substitute the following for subsection (1):

“(1) The trustees of a scheme or a trust RAC or any employer to whom a scheme relates shall furnish such information to such persons in such circumstances and within such time limits as may be prescribed in relation to the following, that is to say:

( a) the constitution of the scheme or trust RAC;

( b) the administration and finances of the scheme or trust RAC, including any commission, charge, expense or remuneration paid or received in connection with the scheme or trust RAC;

( c) the rights and obligations that arise or may arise under the scheme or trust RAC; and

( d) such other matters as may be prescribed which appear to the Minister to be relevant to—

(i) schemes of a particular description to which the scheme belongs, or

(ii) trust RACs of a particular description to which the trust RAC belongs. ”.

( b) In subsection (4)—

(i) substitute the following for paragraph ( b):

“( b) The actuary to or the auditor of a scheme or the auditor of a trust RAC may request the trustees of the scheme or the trust RAC or any employer to whom the scheme relates to furnish him with such information as he may reasonably require for the purposes of his functions under this Act or regulations thereunder and the trustees or the employer shall comply with any such request.”,

(ii) substitute the following for paragraph ( c):

“( c) The Board may by notice in writing request an employer to whom a scheme relates or the trustees of a scheme or a trust RAC to furnish the Board with such information and within such time limits as the Board may specify in relation to the matters described in subsection (1) and the employer or the trustees, as the case may be, shall comply with any such request.”.

( c) Insert the following after subsection (6):

“(7) This section shall not apply to a small trust RAC.”.

Section 55

( a) In subsection (1)—

(i) insert “or a trust RAC” after “trustees of a scheme”,

(ii) insert “or the trust RAC” after “the operation of the scheme”,

(iii) substitute the following for paragraph ( a):

“( a) each year beginning on the date specified for the purpose of the scheme or the trust RAC—

(i) in any document comprising the scheme or the trust RAC or which is included among the documents comprising it, or

(ii) in the rules of the scheme or the trust RAC, ”,

and

(iv) in paragraph ( c)(ii), insert “or the trust RAC” after “the scheme”.

( b) In subsection (2)—

(i) in paragraph ( a), insert “or a trust RAC” after “a scheme”,

(ii) in paragraph ( c), substitute “in part, or” for “in part.”, and

(iii) insert the following after paragraph ( c):

“( d) a small trust RAC.”.

Section 56

( a) In subsection (1)—

(i) insert “or a trust RAC” after “a scheme”, and

(ii) in paragraph ( a), insert “or trust RAC” after “the scheme” where it occurs.

( b) In subsection (2)( a), insert “or trust RAC” after “the scheme”.

( c) Substitute the following for subsection (2A):

“(2A) The trustees of a defined contribution scheme or a trust RAC shall cause the liabilities of the scheme or the trust RAC to be valued in such a manner and at such times as may be prescribed.”.

( d) In subsection (3), insert “or trust RAC” after “scheme”.

( e) In subsection (4)—

(i) insert “or particular trust RAC” after “particular scheme”, and

(ii) insert “or trust RAC” after “the scheme” where it occurs.

( f) In subsection (6)( a)(ii), insert “or a trust RAC” after “scheme”.

( g) Insert the following after subsection (6):

“(7) This section shall not apply to a small trust RAC.”.

Section 57

Insert “or trust RACs” after “schemes” where it occurs.

Section 58

( a) In subsection (1), insert “or trust RAC” after “scheme”.

( b) In subsection (2)—

(i) in paragraph ( a), insert “or a trust RAC” after “scheme”, and

(ii) substitute the following for all the words from “shall be determined” to the end of that subsection:

“shall be determined by the Board on application to it in writing in that behalf—

( a) in the case of a scheme, by a person who, in relation to the scheme, corresponds to a person mentioned in section 38(3) in relation to the scheme mentioned therein,

( b) in the case of a trust RAC, by a person who is a member or trustee of the trust RAC.”.

( c) In subsection (3), insert “or a trust RAC” after “a scheme”.

( d) Insert the following after subsection (3):

“(4) This section shall not apply to a small trust RAC.”.

Section 58A

( a) In subsections (1), (2) and (3), insert “or trust RAC” after “scheme” where it occurs.

( b) In subsection (4), insert “or as a contribution to a trust RAC” after “benefit”.

Section 59

( a) In subsection (1)—

(i) insert “and trust RACs” after “schemes”,

(ii) insert the following after paragraph ( a):

“( aa) to ensure that the contributions to a trust RAC are invested in accordance with paragraph ( b) within 10 days of the end of the month in which those contributions are received;”,

and

(iii) in paragraphs ( b) and ( c), insert “or trust RAC” after “scheme” where it occurs.

( b) In subsection (1A), insert “or trust RAC” after “scheme” where it occurs.

( c) In subsection (1B)—

(i) insert “or trust RAC” after “a scheme”,

(ii) insert “or small trust RAC, as the case may be,” after “a small scheme”, and

(iii) in paragraph ( a), insert “or trust RAC” after “the scheme”.

Section 59A

In subsections (1), (2)( a), (4), (8), (9)( c) and (10), insert “or trust RAC” after “scheme” where it occurs.

Section 60

( a) In subsection (1), insert “or trust RAC” after “scheme” where it occurs.

( b) Insert the following after subsection (2):

“(2A) A trust RAC shall be registered not later than—

( a) in case the trust RAC commenced before the commencement of Part 1 of Schedule 2 to the Social Wel fare and Pensions Act 2007, one year after such commencement,

( b) in any other case, one year after the commencement of the trust RAC.”.

( c) In subsection (3), insert “or trust RAC” after “scheme”.

Section 61B

Insert “or trust RAC” after “scheme” where it occurs.

Section 63

In subsections (1), (2), (3)( b), (4), (5), (6) and (8), insert “or trust RAC” after “scheme” where it occurs.

Section 63A

( a) In subsection (1), insert “or trust RAC” after “scheme” where it occurs.

( b) Substitute the following for subsection (2):

“(2) An order under subsection (1) may apply to a particular scheme or trust RAC, a particular class of schemes or trust RACs or schemes or trust RACs in general.”.

( c) In subsection (5), insert “or trust RAC” after “scheme”.

( d) Substitute the following for subsection (6):

“(6) An order under subsection (1) may be made on any of the grounds in paragraphs ( b) to ( e) of that subsection whether or not the proceedings were instituted, the petition was presented or the application was made (as the case may be)—

( a) in the case of a scheme, before or after the passing of the Pensions (Amendment) Act 1996,

( b) in the case of a trust RAC, before or after the commencement of Part 1 of Schedule 2 to the Social Wel fare and Pensions Act 2007.”.

( e) In subsection (7)—

(i) insert “or trust RAC” after “scheme”, and

(ii) insert “or trust RACs” after “schemes”.

( f) In subsections (8), (10), (11) and (13), insert “or trust RAC” after “scheme”.

Section 63B

Insert “or trust RAC” after “scheme” where it occurs.

Section 64

( a) In subsections (1), (3), (5), (6), (7) and (9), insert “or trust RAC” after “scheme” where it occurs.

( b) Substitute the following for subsection (4)( c):

“( c) The following shall be entitled to be represented and heard on any appeal under this section:

(i) in the case of a scheme, the Board, the trustees, the employer and the members of the scheme;

(ii) in the case of a trust RAC, the Board and the trustees and members of the trust RAC. ”.

Section 64A

( a) In subsection (1), insert “or trust RAC” after “scheme”.

( b) In subsection (2)—

(i) in paragraph ( a), insert “or a trust RAC” after “scheme”, and

(ii) substitute the following for all the words from “shall be determined” to the end of that subsection:

“shall be determined by the Board on application to it in writing in that behalf—

( a) in the case of a scheme, by a person who, in relation to the scheme, corresponds to a person mentioned in section 38(3) in relation to the scheme mentioned therein,

( b) in the case of a trust RAC, by a person who is a member or trustee of the trust RAC.”.

( c) In subsection (3), insert “or trust RAC” after “scheme”.

Section 82

( a) Insert “, trust RAC” after “a scheme”.

( b) In paragraphs ( a), ( b), ( c) and ( d), insert “or trust RAC” after “the scheme”.

( c) In paragraph ( e), insert “, trust RAC” after “the scheme” where it occurs.

( d) In paragraphs ( f) and ( g), insert “or trust RAC” after “the scheme” where it occurs.

Section 83

( a) In subsection (1), insert “, trust RAC” after “a scheme”.

( b) Substitute the following for subsection (2):

“(2) Subsection (1) does not apply to any belief formed as a result of information obtained—

( a) in the case of a scheme, before the passing of the Pensions (Amendment) Act 1996,

( b) in the case of a trust RAC, before the commencement of Part 1 of Schedule 2 to the Social Welfare and Pen sions Act 2007.”.

( c) In subsection (6), insert “, trust RAC” after “scheme”.

Sections 84, 85, 88, 89 and 90

Insert “or trust RAC” after “scheme” where it occurs.

Section 126

( a) In subsection (1)—

(i) in paragraph ( b) of the definition of “party”, insert “, trust RAC” after “scheme”,

(ii) in the definition of “superannuation benefit” substitute “death;” for “death.”, and

(iii) insert the following after the definition of “superannuation benefit”:

“‘trust Retirement Annuity Contract’ or ‘trust RAC’ means a trust scheme within the meaning of section 784(4) of the Taxes Consolidation Act 1997 which has been approved by the Revenue Commissioners for the purposes of section 784(4) or 785(5) of that Act or the application for approval of which under either of those provisions is being considered, other than a trust scheme which, apart from temporary holdings in cash for liquidity purposes, invests only in life assurance policies;”.

( b) Substitute the following for subsection (3):

“(3) For the purposes of this Part, the following persons shall be deemed to be responsible for the management of an occupational pension scheme or trust RAC, as the case may be:

( a) any trustee of the scheme or trust RAC;

( b) any former trustee of the scheme or trust RAC;

( c) any employer to whom the scheme relates;

( d) any former employer to whom the scheme relates;

( e) any employer or former employer required under section 58A to remit contributions to the trust RAC;

( f) such other person or category of persons as may be prescribed.”.

Section 131(2) and (7)( b)

Insert “, trust RAC” after “scheme” where it occurs.

Section 132

( a) Substitute the following for subsection (1):

“(1) The Minister, with the consent of the Minister for Finance, may by regulations require—

( a) the trustees of a scheme,

( b) the trustees of a trust RAC, and

( c) a PRSA provider,

to establish procedures for dealing with complaints made by, and resolving disputes arising between, prescribed persons in relation to prescribed matters concerning the scheme or trust RAC, or a PRSA provided by such a provider, as the case may be. ”.

( b) Substitute the following for subsection (3):

“(3) Without prejudice to section 5(2), regulations under subsection (1) may, as respects schemes or trust RACs, specify different requirements by reference to the class of scheme or trust RAC concerned (being a class defined in the regulations by reference to the numbers of members of the scheme or trust RAC or such other matters as the Minister considers appropriate).”.

Section 138(3)

In paragraph ( a), insert “, trust RAC” after “scheme”.

Section 139(2)

Insert “or trust RAC” after “scheme” where it occurs.

Section 148

( a) In the definition of “undertaking”, insert “or trust RAC” after “scheme” where it occurs.

( b) In the definition of “relevant statutory requirements”, insert “or trust RACs” after “schemes”.

Section 149

( a) In subsection (1), insert “or trust RAC” after “a scheme” where it occurs.

( b) In subsection (2)( b), insert “or trust RACs” after “schemes” where it occurs.

( c) In subsection (3), insert “or small trust RAC” after “small scheme” where it occurs.

( d) In subsection (4)—

(i) in paragraph ( a)—

(I) insert “or trust RAC” after “the scheme” where it occurs, and

(II) insert “or a small trust RAC” after “small scheme”,

and

(ii) in paragraph ( b), insert “or trust RAC” after “scheme”.

( e) In subsection (5), insert “or trust RAC” after “scheme”.

Section 150

( a) In subsection (1)( b), insert “or trust RAC” after “scheme”.

( b) In subsections (2), (3) and (4), insert “or trust RAC” after “scheme” where it occurs.

Section 151

In subsections (1), (4), (6) and (7), insert “or trust RAC” after “scheme” where it occurs.

Section 152

Insert “or trust RAC” after “scheme” where it occurs.

Section 153

Insert “or self-employed person” after “employer” where it occurs.

Section 154

In subsection (1)

( a) insert “or trust RACs” after “apply to schemes”,

( b) insert “or of trust RACs” after “trustees of schemes”, and

( c) insert “or trust RAC” before “concerned”.

PART 2

Amendments relating to Fines and Penalties

Provision affected

Amendment

(1)

(2)

Section 3

( a) In subsection (3)—

(i) in paragraph ( a), substitute “€5,000” for “£1,500”, and

(ii) in paragraph ( b), substitute “€25,000” for “£10,000”.

( b) Insert the following after subsection (6):

“(7) A fine imposed under this section shall not be paid out of the resources of any scheme or trust RAC or out of the assets of any PRSA, as the case may be.”.

Section 3A (inserted by the Act of 2006)

( a) In subsection (1), substitute “an offence to which this section applies” for “an offence under this Act”.

( b) Insert the following after subsection (1):

“(1A) This section applies to an offence under—

( a) section 3(1)( a) arising out of a contravention of any of the following provisions of this Act, namely sections 18(2)( c), 25, 34, 43, 47, 55(1), (3), (4) or (5), 56(1) or (2A), 58A(3), 59(1B), (1C) or (2)( a)(iii) or (iv), 59C, 60, 113(2) and 121(5),

( b) section 54(1) or (4), or

( c) regulations made under any of the provisions referred to in paragraphs ( a) and ( b) or regulations made under this Act relating to those provisions.”.

( c) Insert the following after subsection (6)—

“(7) Payments made to the Board under this section shall not be paid out of the resources of any scheme or trust RAC or out of the assets of any PRSA, as the case may be.”.

Section 18

( a) In subsection (5)—

(i) in subparagraph (i), substitute “€5,000” for “£1,500”, and

(ii) in subparagraph (ii), substitute “€25,000” for “£10,000”.

( b) Insert the following after subsection (9):

“(10) A fine imposed under this section shall not be paid out of the resources of any scheme or trust RAC or out of the assets of any PRSA, as the case may be.”.

Section 24(2)

Substitute “€5,000” for “£1,500”.

Section 26(4)

( a) In paragraph ( c)—

(i) in subparagraph (i), substitute “€5,000” for “£1,500”, and

(ii) in subparagraph (ii), substitute “€25,000” for “£10,000”.

( b) Insert the following after paragraph ( c):

“( d) A fine imposed under this section shall not be paid out of the resources of any scheme or trust RAC, as the case may be.”.

Section 54

( a) In subsection (5), substitute “€5,000” for “£1,500”.

( b) Insert the following after subsection (5):

“(5A) A fine imposed under this section shall not be paid out of the resources of any scheme or trust RAC, as the case may be.”.

Section 63B

( a) In paragraph ( a), substitute “€5,000” for “£1,500”.

( b) In paragraph ( b), substitute “€25,000” for “£10,000”.

( c) Renumber the existing provision as subsection (1) of that section and insert the following:

“(2) A fine imposed under this section shall not be paid out of the resources of any scheme or trust RAC, as the case may be.”.

Section 83

( a) In subsection (4)—

(i) in paragraph ( a), substitute “€5,000” for “£1,500”, and

(ii) in paragraph ( b), substitute “€25,000” for “£10,000”.

( b) Insert the following after subsection (6):

“(7) A fine imposed under this section shall not be paid out of the resources of any scheme or trust RAC or out of the assets of any PRSA, as the case may be.”.

PART 3

Miscellaneous Amendments

Provision affected

Amendment

(1)

(2)

Section 3

In subsection (2A)( c), substitute “, 64A or 81G” for “or 64A”.

Section 10(1)

( a) Insert the following after paragraph ( f):

“( fa) to perform the functions conferred on the Board by this Act;”.

New section

Insert the following section after section 22:

“Attendance before Committee of Public Accounts.

22A. —(1) The chief executive shall, whenever he is required to do so by the Committee of Dáil Éireann established under the Standing Orders of Dáil Éireann to examine and report to Dáil Éireann on the appropriation accounts and reports of the Comptroller and Auditor General, give evidence to that Committee on—

( a) the regularity and propriety of the transactions recorded or required to be recorded in any book or other record of account subject to audit by the Comptroller and Auditor General which the Board or the chief executive is required to prepare under this Act,

( b) the economy and efficiency of the Board in the use of its resources,

( c) the systems, procedures and practices employed by the Board for the purpose of evaluating the effectiveness of its operations, and

( d) any matter affecting the Board referred to in a special report of the Comptroller and Auditor General under section 11(2) of the Comptroller and Auditor General (Amendment) Act 1993 or in any other report of the Comptroller and Auditor General (in so far as it relates to a matter specified in paragraph ( a), ( b) or ( c)) that is laid before Dáil Éireann.

(2) In the performance of his duties under subsection (1), the chief executive shall not question or express an opinion on the merits of any policy of the Government or a Minister of the Government or on the merits of the objectives of such a policy. ”.

Section 26

In subsections (1)( a) and (6), substitute “81G” for “75” where it occurs.

Sections 38(4), 53(3), 58(3) and 64A(3)

Insert “not later than six months after the date of the determination by the Board” after “the application concerned under subsection (2)” where it occurs.

Section 43(1)

Insert the following after paragraph ( b):

“( ba) in the case of a scheme to which this Part applies by virtue of the amendment effected by section 31( a) of the Social Welfare and Pensions Act 2005, not later than 1 April 2007, and”.

Section 49

Substitute the following for subsection (3):

“(3) Subject to Regulations under this section, the Board, on application to it in that behalf by the trustees of a scheme, may, in relation to the scheme, in the circumstances and on the terms that it considers appropriate, for the purposes of subsection (2)( a), specify a date later than the effective date of the next actuarial funding certificate—

( a) in a case where the actuary concerned certifies that the failure of the scheme to satisfy the funding standard relates wholly or mainly to either or both of the following:

(i) the assets of the scheme being less than expected where

(I) this is due to the performance of relevant markets in relation to investments made with the resources of the scheme and that the performance of those markets in relation to those investments is not inconsistent with the performance generally of relevant markets for investment in the same period, and

(II) having regard to the performance generally of relevant markets for investment, the Board considers that specifying a later date is necessary or appropriate and not contrary to the interests of the members of the scheme;

or

(ii) the liabilities of the scheme being greater than expected where

(I) this is due to such factors and circumstances as shall be prescribed, and

(II) the Board considers that specifying a later date is necessary or appropriate and not contrary to the interests of members of the scheme;

or

( b) in the case of a scheme referred to in section 43(1)( d), the Board considers that specifying a later date is necessary or appropriate and not contrary to the interests of members of the scheme.”.

Section 50

( a) In subsection (1)( b), substitute “section 49, or” for “section 49.”.

( b) Insert the following after subsection (1)( b):

“( c) the actuarial funding certificate certifies that the scheme does not satisfy the funding standard and the trustees of the scheme have submitted a funding proposal in accordance with section 49.”.

( c) In subsection (2)( a) substitute—

(i) “paragraph 2(2)” for “subparagraph 1(2)”, and

(ii) “paragraph 4( b)(i)(I)” for “subparagraph 4( b)(i)(I)”.

( d) Substitute the following for subsection (2)( b):

“( b) be such that in the opinion of the actuary concerned—

(i) the scheme would satisfy the funding standard in accordance with section 44 immediately following the reduction, or

(ii) in the case of a scheme referred to in subsection (1)( c), the scheme could reasonably be expected to satisfy the funding standard at the effective date of the next actuarial funding certificate or, where applicable, any later date specified under section 49(3).”.

( e) In subparagraph (3)( a)(i) insert “or, in the case of a scheme where a funding proposal has been submitted to the Board pursuant to section 49, such that in the opinion of the actuary concerned the scheme could reasonably be expected to satisfy the funding standard at the effective date of the next actuarial funding certificate or, where applicable, any later date specified under section 49(3)” after “satisfy the funding standard in accordance with section 44 immediately following the reduction”.

( f) Substitute the following for subparagraph (3)( b)(ii):

“(ii) an actuarial funding certificate certifying that—

(I) at the effective date, being the date of the reduction in benefits, the scheme satisfies the funding standard, or

(II) in the case of a scheme where a funding proposal has been submitted to the Board pursuant to section 49, at the effective date of the next actuarial funding certificate or, where applicable, any later date specified under section 49(3), the scheme could reasonably be expected to satisfy the funding standard. ”.

Section 54 (as amended by Part 1 of this Schedule)

( a) In subsection (1)—

(i) substitute “The actuary to or trustees of” for “The trustees of”,

(ii) in paragraph ( c), delete “and”, and

(iii) insert the following after paragraph ( c):

“( ca) the actuarial work within the meaning of section 51A(5) in relation to the scheme, including but not necessarily limited to documents, data and advice, relating to the documents referred to in section 51A(5).”.

( b) In subsection (4)( c), insert—

(i) “or the actuary to’’ after “relates”, and

(ii) “, the actuary’’ after “the employer”.

Section 56(6)

In paragraph ( b)(i) insert “, other than a defined contribution scheme to which section 31( a) of the Social Welfare and Pensions Act 2005 applies,” before “or”.

Section 59A(2)

Substitute the following for paragraph ( b):

“( b) specify—

(i) the circumstances in which trustees will be regarded as possessing the specified qualifications and experience referred to in paragraph ( a), and

(ii) the manner in which trustees may satisfy the Board that they have employed or entered into arrangements with advisers who possess the qualifications and experience referred to in paragraph ( a).”.

Section 81G

( a) In subsection (1), insert “a defined benefit scheme or” after “whether a scheme is”.

( b) In subsection (2), insert “within six months after the date of the determination by the Board” after “the application concerned under subsection (1)”.

Section 104

In subsection (11), substitute “increases in” for “changes to”.

New section

Insert the following section after section 143

“Attendance before Committee of Public Accounts.

143A. —(1) The Pensions Ombudsman shall, whenever he is required to do so by the Committee of Dáil Éireann established under the Standing Orders of Dáil Éireann to examine and report to Dáil Éireann on the appropriation accounts and reports of the Comptroller and Auditor General, give evidence to that Committee on—

( a) the regularity and propriety of the transactions recorded or required to be recorded in any book or other record of account subject to audit by the Comptroller and Auditor General that the Pensions Ombudsman is required to prepare under this Act,

( b) the economy and efficiency of the Pensions Ombudsman in the use of resources,

( c) the systems, procedures and practices employed by the Pensions Ombudsman for the purpose of evaluating the effectiveness of operations of the Office of the Pensions Ombudsman, and

( d) any matter affecting the Pensions Ombudsman referred to in a special report of the Comptroller and Auditor General under section 11(2) of the Comptroller and Auditor General (Amendment) Act 1993 or in any other report of the Comptroller and Auditor General (in so far as it relates to a matter specified in paragraph ( a), ( b) or ( c)) that is laid before Dáil Éireann.

(2) In the performance of his duties under subsection (1), the Pensions Ombudsman shall not question or express an opinion on the merits of any policy of the Government or a Minister of the Government or on the merits of the objectives of such a policy. ”.

Section 150(1)

Substitute the following for paragraph ( a):

“( a) on being satisfied that any of the conditions for authorisation under section 149(4) have not been or are not being complied with, or”.