Section 10(1) of the Principal Act is amended -

(a) by the substitution for paragraph (a) of the following paragraph:

"(a) to monitor and supervise the operation of this Act and pension developments generally, including the activities of PRSA providers as such providers, the provision of PRSA products and the operation of Personal Retirement Savings Accounts;",

(b) by the substitution for paragraph (c) of the following paragraph:

"(c) to -

(i) issue guidelines or guidance notes on the duties and responsibilities of trustees of schemes and codes of practice on specific aspects of their responsibilities; and

(ii) issue guidelines or guidance notes on the duties and responsibilities of PRSA providers in relation to PRSA products and with respect to such products;",

and

(c) by the substitution for paragraph (e) of the following paragraph:

"(e) to advise the Minister on all matters arising in relation to this Act and, in particular, on standards for trustees of schemes and on their implementation;".