Section 97 of the 1986 Act [Section 97(3) was amended by the Building Societies Act 1997, sections 43 and 46(2), Schedule 7, paragraph 45(2) and Schedule 9. For amendments to section 97(12) see the footnote to article 4.] applies in relation to a relevant transfer with the following modifications -

(a) in subsection (3), after "formed by the society" insert "or by the holding mutual";

(b) in subsection (12), in the definition of "company", after "formed by a building society" insert "or by the holding mutual".