10(1)A land transaction is relieved from tax if it is effected by or in consequence of—
(a)an amalgamation of two or more building societies under section 93 of the Building Societies Act 1986 (c. 53) (amalgamation), or
(b)a transfer of engagements between building societies under section 94 of that Act (transfer of engagements).
(2)In this paragraph, “building society” has the meaning given by section 119(1) of the Building Societies Act 1986 (c. 53).