Pensions (Amendment) Act, 1996

Amendment of section 42 of Principal Act.

16.—Section 42 of the Principal Act is hereby amended by the insertion after subsection (4) of the following subsection:

“(5) The Board, where it considers that it is necessary or appropriate and would not be contrary to the interests of the members of a scheme, may modify the requirements of subsections (1) and (2) in respect of such scheme in such circumstances and on such terms as it considers appropriate.”.