(1) Section 102B of the 1986 Act (protection of interests of beneficiaries in the case of trustee account holders) [Section 102B was inserted by the Building Societies (Distributions) Act 1997, section 1.] applies in relation to a relevant transfer with the following modifications -

(a) in subsection (2), for paragraph (a) substitute -

"(a) a distribution among members of the society of part of the funds of the society or the holding mutual made in accordance with section 4 of the 2007 Act and article 7 of the 2009 Order, but not a distribution within section 100(2)(b), or";

(b) in subsection (3), for "and its successor" substitute ", its successor and the holding mutual";

(c) in subsection (6), for "and its successor" substitute ", its successor and the holding mutual".