The Principal Act is amended -

(a) in section 2(1) by -

(i) inserting the following after the definition of " occupational pension scheme ":

" ‘ one-member arrangement ’ means a defined contribution scheme that has been established for one person only including a scheme so established that has another member by reason of the operation of a pension adjustment order;

‘ outsourcing arrangement ’ means an arrangement of any form between a registered administrator and another person for the performance by that other person of a process, service or activity which would otherwise be undertaken by the registered administrator itself, and ‘outsourced’ shall be construed accordingly;

‘ pension adjustment order ’ means an order under section 12(2) or (3) of the Family Law Act 1995 or section 17(2) or (3) of the Family Law (Divorce) Act 1996;

‘ pensioneer trustee ’ means a person who is for the time being approved by the Revenue Commissioners to act as such in accordance with requirements imposed under Part 30 of the Taxes Consolidation Act 1997;",

(ii) inserting the following after the definition of " preserved benefit ":

" ‘ professional trustee ’ means a person who -

(a) holds himself out as having special knowledge, skills and expertise with respect to pension trusts, and

(b) in the course of a profession or business provides trustee services to schemes or trust RACs;",

(iii) inserting the following after the definition of " reckonable service ":