(1) Section 50 of the Principal Act is amended by the insertion of the following subsections after subsection (2B):

"(2C) Subject to subsection (2D), where -

(a) the Pensions Authority gives a direction under subsection (1A) or (1B), whether on application by the trustees of a scheme or otherwise, and

(b) a final decision has been taken that results in a reduction of benefits payable to, or in respect of, persons referred to in subsection (3)(a)(i)(III),

the trustees of the scheme shall inform those persons -

(i) of the reduction in benefits referred to in subsection (1A) or (1B) without delay after the final decision has been taken and not later than one month from the date on which that final decision was taken, and

(ii) 3 months before that final decision is implemented.

(2D) For the purposes of subsection (2C), where the Pensions Authority gives a direction referred to in that subsection which -

(a) specifies the measures to be taken by the trustees of the scheme to reduce the benefits, the date of the final decision referred to in subsection (2C) shall be the date of the notification of the direction given under subsection (1A) or (1B), or