The Principal Act is amended by the insertion of the following sections after section 151:

"151A. Transfer from IORP in another Member State to receiving scheme or trust RAC

(1) The trustees of a scheme or trust RAC may, in accordance with this section, receive all or part of a pension scheme's liabilities, technical provisions and other obligations and rights as well as corresponding assets or cash equivalent thereof, from a transferring IORP.

(2) The trustees of a receiving scheme or trust RAC seeking to receive a transfer from a transferring IORP shall submit an application for authorisation of a transfer to the Pensions Authority.

(3) An application under subsection (2) shall include the following information:

(a) the written agreement between the transferring IORP and the trustees of the receiving scheme or trust RAC setting out the conditions of the transfer;

(b) a description of the main characteristics of the transferring IORP's pension scheme;

(c) a description of the liabilities or technical provisions to be transferred, and other obligations and rights, as well as corresponding assets or cash equivalent thereof;

(d) the name and the location of the main administration of the transferring IORP and the Member State in which it is registered or authorised;