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Banking Act 2009

Section 55: Independent valuer: supplemental

144.Subsection (1) enables the independent valuer to do anything necessary or desirable in relation to the performance of his functions. Subsections (2) to (4) enable the Treasury by order to make provision to assist the independent valuer in the discharge of his functions, for example by providing him with certain powers.

145.Subsection (4) gives the independent valuer the power to appoint staff.

146.Subsection (6) requires the order to provide for the reconsideration of the decisions of the valuer, and for onward rights of appeal from the valuer to a court or tribunal.

147.Under Subsection (7) the independent valuer and his staff are not servants of the Crown, and subsection (8) provides that the records of the independent valuer are public records for the purposes of the Public Records Act 1958.

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