28.—Section 2 of the Principal Act is amended—

(a) by inserting the following after the definition of “defined contribution scheme”:

“ ‘Directive’ means Directive 2003/41/EC of the European Parliament and of the Council²;”,

(b) in the definition of “employer” (inserted by section 6 of the Act of 2002), by inserting “and subject to section 154” after “Part VII”,

(c) in the definition of “member” (as amended by section 53 of the Social Welfare Act 1992), by substituting “sections 62 and 154” for “section 62”,

(d) by substituting the following for the definition of “occupational pension scheme” (as amended by section 42 of the Social Welfare Act 1993):

“ ‘occupational pension scheme’, means any scheme or arrangement other than an overseas pension scheme within the meaning of section 770(1) of the Taxes Consolidation Act 1997—

(a) which is comprised in one or more instruments or agreements, and

(b) subject to section 154, which provides or is capable of providing in relation to employees in any description of employment within the State, benefits, and

(c) (i) which has been approved of by the Revenue Commissioners for the purpose of Chapter 1 of Part 30 of the Taxes Consolidation Act 1997, or

(ii) the application for approval of which under Chapter 1 of Part 30 of the Taxes Consolidation Act 1997 is being considered, or

(iii) which is a statutory scheme to which section 776 of the Taxes Consolidation Act 1997 applies, or

(iv) which is a scheme to which section 790B of the Taxes Consolidation Act 1997 applies, or

(v) which is a scheme, other than a scheme specified in subparagraph (i), (ii) or (iii), the benefits of which are paid in whole or in part out of moneys provided from the Central Fund or moneys provided by the Oireachtas, or

(vi) which has been approved by the Revenue Commissioners for the purpose of one or more of the following—

(I) section 32 of the Finance Act 1921, or

(II) section 34 of the Finance Act 1958, or

(III) section 222 or 229 of the Income Tax Act 1967;”,

(e) by inserting the following after the definition of “sectionalised scheme” (inserted by section 6 of the Act of 2002):

“ ‘small scheme’ means a scheme with less than 100 members who are entitled to but are not receiving an immediate retirement benefit under the scheme;”,

and

(f) by inserting the following after subsection (3):

“(4) A word or expression that is used in this Act and is also used in the Directive has, unless the contrary intention appears, the same meaning in this Act as it has in the Directive.”.