Section 80 of the Principal Act is amended by substituting the following for subsection (1):
(a) In this section -
' acquiring company ' means, subject to paragraph (b), a company with limited liability;
' shares ' includes stock and references to the undertaking of a target company include references to apart of the undertaking of a target company.
(b) In respect of instruments executed on or after 1 June 2005, references to ' acquiring company', 'target company' and 'company' shall be construed as including a reference to a society registered under the Industrial and Provident Societies Act 1893.".