The Bank Recovery and Resolution Order 2016 No. 1239

PART 2 U.K. Amendments of the Banking Act 2009 and related provision

CHAPTER 1 U.K. Amendments of the Banking Act 2009

Independent valuation U.K.

17.—(1) Section 62A (independent valuer: valuation under section 6E or 48X) M1 is amended as follows.

(2) After subsection (1) insert—

“(1A) The Bank may require the bank to which the valuation relates to reimburse the Bank for costs it incurs in relation to the independent valuer (including remuneration and allowances paid to the valuer and the valuer's staff).”.

(3) In subsection (6)—

(a) for “Sections” substitute “ Section ”;

(b) omit “, and 56”.

Marginal Citations

M1 Section 62A was inserted by S.I. 2014/3329.