(1) Chapter IV of Part I of the Finance Act, 1986, is hereby amended -
(a) in subsection (1) of section 31 -
(i) by the substitution of the following definition for the definition of "appropriate tax":
"‘appropriate tax’, in relation to a payment of relevant interest, means a sum representing income tax on the amount of that payment -
(a) in the case of a relevant deposit or relevant deposits held in a special savings account, at the rate of 10 per cent., and
(b) in the case of any other relevant deposit, at the standard rate in force at the time of payment;",
(ii) by the insertion of the following definitions after the definition of "interest":
"‘operative date’ means the date on which sections 37 A and 37B (inserted by the Finance Act, 1992) come into operation by virtue of an order made by the Minister for Finance under section 22 of that Act;
‘pension scheme’ means an exempt approved scheme within the meaning of section 16 of the Finance Act, 1972, or a retirem