(1) The Principal Act is amended -

(a) in Chapter 1 of Part 30 -

(i) in section 772 -

(I) in subsection (2)(c) by substituting "by this Chapter and Chapter 2C" for "by this Chapter", and

(II) by inserting the following after subsection (3E):

"(3F) A retirement benefits scheme shall neither cease to be an approved scheme nor shall the Revenue Commissioners be prevented from approving a retirement benefits scheme for the purposes of this Chapter because of any provision in the rules of the scheme whereby a member's entitlement under the scheme may be commuted, to such extent as may be necessary, for the purpose of discharging a tax liability in connection with that entitlement under the provisions of Chapter 2C of this Part.",

(ii) in section 774(7)(c) -

(I) by deleting subparagraphs (iii) and (iv), and

(II) by inserting the following after subparagraph (ii):