C1C2Part 1Special Resolution Regime
Pt. 1: power to amend conferred (1.3.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), ss. 17(3)(f), 148(5); S.I. 2014/377, art. 2(1)(b), Sch. Pt. 2
F2Chapter 3 Special resolution action
Pt. 1 Ch. 3 formed from ss. 4-83 (1.1.2015) by The Bank Recovery and Resolution Order 2014 (S.I. 2014/3329), arts. 1(2), 7
Compensation
I155Independent valuer: supplemental
1
An independent valuer may do anything necessary or desirable for the purposes of or in connection with the performance of the functions of the office.
2
The Treasury may by order confer specific functions on independent valuers; in particular, the order may—
a
enable an independent valuer to apply to a court or tribunal for an order requiring the provision of information or the giving of oral or written evidence;
b
enable or require independent valuers to publish, disclose or withhold information.
3
Provision under subsection (2) may—
a
confer a discretion on independent valuers;
b
confer jurisdiction on a court or tribunal;
c
make provision about oaths, expenses and other procedural matters relating to the giving of evidence or the provision of information;
d
create a criminal offence;
e
make other provision about enforcement.
4
An independent valuer may appoint staff.
5
The Treasury may by order make provision about the procedure to be followed by independent valuers.
6
The Treasury shall by order make provision for—
a
reconsideration of a decision of an independent valuer, and
b
appeal to a court or tribunal against a decision of an independent valuer.
7
Independent valuers (and their staff) are neither servants nor agents of the Crown (and, in particular, are not civil servants).
8
Records of an independent valuer are public records for the purposes of the Public Records Act 1958.
9
An order under this section—
a
shall be made by statutory instrument, and
b
shall be subject to annulment in pursuance of a resolution of either House of Parliament.
F110
But subsection (9)(b) does not apply if the order is contained in a statutory instrument that contains an order to which section 62 applies.
Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2