(1) Subject to these Regulations, the Act of 1997 shall apply to each company a bid in respect of which the Panel has (by virtue of Regulation 6) jurisdiction to supervise.

(2) Paragraph (1) does not affect the continued application of the Act of 1997 to companies which, though falling within the definition of "relevant company" in section 2 of that Act (as that section has effect apart from the operation of this Regulation), do not fall within paragraph (1).

(3) For the purpose of the application of the Act of 1997 by paragraph (1), each reference in that Act to a "relevant company" shall be read as including a reference to a company referred to in paragraph (1).