Section 55 of the Pensions Act (as amended by section 62 of the Act of 1991) is hereby amended by the insertion after subsection (1) of the following proviso:
"Provided that where the period selected by the trustees is altered, a report prepared for a period other than a year, such period not to exceed 23 months, shall, with the approval of the Board, be regarded as an annual report for the purposes of this section.".