5. (1) As soon as practicable after the commencement of this section, BGÉ shall form and register under the Companies Acts in accordance with this Part a private company limited by shares (in this Act referred to as the “network company”).

(2) Paragraph (b) of subsection (1) of section 6 (inserted by section 3 of, and the First Schedule to, the Companies (Amendment) Act 1983) of the Companies Act 1963 shall not apply to the network company.

(3) F3[…]

(4) F3[…]