Article 4 Interpretation of the transfer provisions

Section 97(12) of the 1986 Act^f1 applies in relation to a relevant transfer with the following modifications.

At the appropriate places insert—

• ““the 2007 Act” means the Building Societies (Funding) and Mutual Societies (Transfers) Act 2007;”;

• ““the 2009 Order” means the Mutual Societies (Transfers) Order 2009;”;

• ““holding mutual” means the mutual society of which the successor is a subsidiary;”;

• ““mutual society” has the same meaning as in section 3 of the 2007 Act;”;

• ““parent undertaking” has the same meaning as in the Companies Acts (see section 1162 of, and Schedule 7 to, the Companies Act 2006^f2);”;

• ““subsidiary” (except in the term “subsidiary undertaking”) has the same meaning as in section 3 of the 2007 Act;”.