Section 2(1)

(a) In the definition of "auditor", insert ", trust RAC" after "scheme" where it occurs.

(b) Substitute the following for the definition of "member":

" 'member' means -

(a) in relation to a scheme, subject to sections 62 and 154, any person who, having been admitted to membership under the rules of the scheme, remains entitled to any benefit under the scheme in respect of a period of service whilst employed within the State,

(b) in relation to a trust RAC, any person whose occupational activities entitle or will entitle the person to retirement benefits (within the meaning of Article 6 of the Directive) in accordance with the rules of the trust RAC;".

(c) In the definition of "resources", insert "or trust RAC" after "scheme" where it occurs.

(d) In the definition of "rules", insert "or trust RAC" after "scheme" where it occurs.

(e) Insert the following after the definition of "small scheme":

" 'small trust Retirement Annuity Contract' or 'small trust RAC' means a trust RAC which has less than 100 members;

'trust Retirement Annuity Contract' or 'trust RAC' means a trust scheme within the meaning of section 784(4) of the Taxes Consolidation Act 1997 which has been approved by the Revenue Commissioners for the purposes of section 784(4) or 785(5) of that Act or the application for approval of which under either of those provisions is being considered;".

(f) Substitute the following for the definition of "trustees":

" 'trustees', means -

(a) in relation to a scheme which is established under a trust or a trust RAC, the trustees of the scheme or trust RAC,