(1) Section 2 of the Principal Act is amended in subsection (1) by -

(a) the insertion of the following definitions:

"'competent authority' means -

(a) in relation to the State, the Pensions Authority, and

(b) in relation to another Member State, the competent authority designated by that Member State to perform the functions of the competent authority under the Directive of 2016 for that Member State;

'Directive of 2016' means Directive (EU) 2016/2341 [OJ No. L 354, 23.12.2016, p.37] of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs)(recast);

'EIOPA' means the European Insurance and Occupational Pensions Authority established by Regulation (EU) No. 1094/2010 of the European Parliament and of the Council [OJ No. L 331, 15.12.2010, p.48];

'enactment' has the same meaning as it has in the Interpretation Act 2005;"

'External Report' shall be construed in accordance with section 26N;

'External Report reviewer' shall be construed in accordance with section 26O;

'key function holder' has the meaning assigned to it by section 64AA;

'prudential supervision' shall be construed in accordance with Part IIA;",