40.— The Principal Act (amended by section 41 of the Social Welfare and Pensions Act 2010) is amended in section 48(3)—

(a) in paragraph (b) by substituting “which policies or contracts are— ” for “which policies or contracts are approved— ”,

(b) in subparagraph (i) of paragraph (b) by substituting “approved by the Revenue Commissioners” for “by the Revenue Commissioners”, and

(c) in subparagraph (ii) of paragraph (b) by substituting “certified by the Board” for “by the Board”.