Section 42 of the Principal Act is amended -

(a) in subsection (1) by substituting "Act" for "Part and the Third Schedule",

(b) by inserting the following subsection after subsection (1):

"(1A) On and after 1 June 2012, the trustees of a relevant scheme shall, from time to time in accordance with section 43, submit to the Board a certificate, in this Act referred to as 'a funding standard reserve certificate’.",

(c) in subsection (2) by substituting -

(i) "in this Act referred to as 'the effective date of the actuarial funding certificate’" for "in this Part referred to as 'the effective date’", and

(ii) "44(1)" for "44" in both places where it occurs,

(d) by inserting the following subsection after subsection (2):

"(2A) The trustees of a relevant scheme shall cause funding standard reserve certificates to be prepared by an actuary who shall certify therein that as at the date, in this Act referred to as 'the effective date of the funding standard reserve certificate’, on which the funding standard reserve is calculated for the purposes of section 44(2) either -

(a) the scheme satisfies the funding standard reserve, or