Section 152 of the Principal Act is amended -

(a) in subsection (1) -

(i) by the deletion of ", investment", and

(ii) by the insertion of "and a requirement, if any, under the law of any relevant Member State to appoint a depositary" after "host Member State", and

(b) in subsection (2) by the substitution of the following for paragraph (a):

"(a) the competent authority of the host Member State, in pursuance of Article 11(10) of the Directive of 2016, inform the Pensions Authority that the trustees of the scheme or trust RAC are operating the scheme or trust RAC in a manner which is not consistent with -

(i) the requirements of social and labour law,

(ii) the information requirements, referred to in Title IV of the Directive of 2016, or

(iii) a requirement, if any, to appoint a depositary under the law,

of that host Member State, or".