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Amendment of section 41 of Principal Act.
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28.— Section 41 of the Principal Act is amended by substituting the following paragraph for paragraph (a) of subsection (2):
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“(a) this Part shall apply to—
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(i) a defined contribution scheme which is a regulatory own funds scheme,
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(ii) a defined contribution scheme which is paying benefits to or in respect of members where those benefits are not secured under a policy or policies of assurance with one or more undertakings, and
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(iii) a small scheme of the type referred to in paragraph (b) of subsection (1) which is a regulatory own funds scheme,”.
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