The Principal Act is amended by inserting the following after Part XI (inserted by section 5 of the Act of 2002)  -

"Part XII Cross-border Schemes

148. Interpretation (Part XII).

(1) In this Part -

'Court' means the High Court;

'EEA Agreement' means the Agreement on the European Economic Area signed at Oporto on 2 May 1992, as adjusted by the Protocol signed at Brussels on 17 March 1993;

'undertaking', in relation to a scheme, means a sponsoring undertaking located in another Member State which makes or proposes to make contributions to the scheme;

'relevant statutory requirements' means the statutory provisions relevant to the field of schemes, that may be prescribed;

'social and labour law', in relation to a Member State, means the social and labour law (within the meaning of Article 20 of the Directive) of that State relevant to occupational pension schemes (within the meaning of that article).

(2) In this Part Member State shall be read as including reference to those States which are Contracting Parties to the EEA Agreement.

149. Authorisation to operate cross-border schemes.

(1) The trustees of a scheme shall not accept any contributions to a scheme from an undertaking unless -

(a) the trustees are authorised by the Board under this section, and