Section 80 of the Principal Act is amended -

(a) by substituting the following for subsections (1) to (6):

"(1)

(a) In this section -

‘acquiring company’ means, subject to paragraph (b), a company with limited liability;

‘merger’ means a merger undertaken in accordance with Chapter 3 of Part 9 or Chapter 16 of Part 17 of the Companies Act 2014;

‘shares’ includes stock;

‘successor company’ and ‘transferor company’ have the meanings given to them by section 461 of the Companies Act 2014;

‘undertaking’ includes part of an undertaking.

(b) References in this section to a company shall be construed as including references to a society registered under the Industrial and Provident Societies Act 1893.

(2)

(a) This subsection applies where there is a scheme for the bona fide reconstruction of any company or the amalgamation of any companies and where, in connection with the scheme, the following conditions apply:

(i) a company with limited liability is to be registered, or a company has been established by Act of the Oireachtas, or the nominal share capital of a company has been increased,

(ii) the company (in this section referred to as the ‘acquiring company’) is to be registered or has been established or has increased its capital with a view to the acquisition of either -