108.—(1) Section 119(1) of the Building Societies Act 1986 (interpretation) is amended as follows.
(2) For the definition of “associated undertaking”(1) substitute—
““associated undertaking” has the meaning given by section 119A;”.
(3) Omit the definition of “subsidiary undertaking”(2).
(4) At the appropriate place insert—
““undertaking” and “subsidiary undertaking” have the same meaning as in the Companies Acts (see sections 1161(1) and 1162 of, and Schedule 7 to, the Companies Act 2006);”.
The definition of “associated undertaking” was substituted by the Building Societies Act 1997 (c.32), Schedule 7, paragraph 53(1)(b).
The definition of “subsidiary undertaking” was inserted by S.I. 1991/1729, article 5.