Section 588 of the Principal Act is amended by inserting after subsection (6) the following:

"(7) Where in connection with the arrangements there is conferred on a member of an assurance company a right to acquire shares in a successor company, or a right to a distribution of assets (including cash) of the assurance company, the assurance company shall, within 30 days of the arrangements being effected or within such longer period as the Revenue Commissioners may on request allow, make a return to the Revenue Commissioners in such electronic format as they require, which, in respect of each such member, specifies -

(a) the name of the member,

(b) the address of the member,

(c) the number of shares in the successor company which the member has a right to acquire,

(d) the amount of new consideration which the member is required to give to acquire those shares,

(e) the value of any assets of the assurance company to which the member has a right, and

(f) such other information that the Revenue Commissioners advise the assurance company that they require.".