Financial Services and Markets Act 2023

Independent valuer: supplementalU.K.

This section has no associated Explanatory Notes

25(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 regulations confer specific functions on independent valuers; in particular, the regulations 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 sub-paragraph (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)make provision about enforcement.

(4)An independent valuer may appoint staff.

(5)The Treasury may by regulations make provision about the procedure to be followed by independent valuers.

(6)Independent valuers (and their staff) are neither servants nor agents of the Crown (and, in particular, are not civil servants).

(7)Records of an independent valuer are public records for the purposes of the Public Records Act 1958.

(8)Regulations under this paragraph are subject to the negative procedure.

Commencement Information

I1Sch. 11 para. 25 not in force at Royal Assent, see s. 86(3)