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Amendment of section 41 of Principal Act.
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26.— Section 41(2) of the Principal Act is amended by—
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(a) substituting “Notwithstanding subsection (1) but subject to paragraph (aa)—” for “Notwithstanding subsection (1)—”, and
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(b) inserting the following paragraph after paragraph (a):
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“(aa) the provisions of this Part which relate to the funding standard reserve shall not apply to—
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(i) a defined contribution scheme which is a regulatory own funds scheme, or
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(ii) 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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