C1C2Part 1Special Resolution Regime

Annotations:
Modifications etc. (not altering text)

F2Chapter 3 Special resolution action

Annotations:
Amendments (Textual)
F2

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.