(1) In this section -

"acquirer" means a person or persons making or proposing to make an acquisition pursuant to an acquisition agreement and an acquisition conversion scheme;

"acquisition" includes purchase, allotment, transfer or any other means by which an acquirer may take ownership of shares in a successor company;

"acquisition agreement" means in relation to a building society to which subsection (2) applies, and a conversion scheme, any agreement entered into by that society expressed to be conditional on conversion, which provides for the direct or indirect acquisition by an acquirer of shares in the successor company, provided that after the acquisition the aggregate proportion of shares or voting rights attaching to shares in the successor company held or exercisable by, or by nominees for, that acquirer would exceed 50 per cent;

"acquisition conversion scheme" means a conversion scheme which is expressed to be for the purpose of implementing an acquisition;