http://www.legislation.gov.uk/ukpga/2009/1/section/57Banking Act 2009An Act to make provision about banking.texttext/xmlenStatute Law Database2026-02-20Expert Participation2026-01-19 Banking Act 2009s. 4(8A) (8B)Financial Services Act 2012s. 96(3)Sch. 20s. 122(3)Banking Act 2009s. 8(2)(d) and wordFinancial Services Act 2012s. 96(4)(b)Sch. 20s. 122(3) Part 1Chapter 3 571A compensation scheme order or bail-in compensation order may specify principles (“valuation principles”) to be applied in determining the amount of compensation.2Valuation principles may, in particular, require an independent valuer—ato apply, or not to apply, specified methods of valuation;bto assess values or average values at specified dates or over specified periods;cto take specified matters into account in a specified manner;dnot to take specified matters into account.3In determining an amount of compensation (whether or not in accordance with valuation principles) an independent valuer must disregard actual or potential financial assistance provided by the Bank of England or the Treasury (disregarding ordinary market assistance offered by the Bank on its usual terms).3AIn subsection (3), “financial assistance” includes any amount in respect of which the Bank of England may require a recapitalisation payment under section 214E of the Financial Services and Markets Act 2000.4Valuation principles may require or permit an independent valuer to make assumptions; such as, for example, that the bank—ahas had a permission under Part 4A of the Financial Services and Markets Act 2000 (regulated activities) varied or cancelled,bis unable to continue as a going concern,cis in administration, ordis being wound up.5There is nothing to prevent the application of the valuation principles in an order from resulting in no compensation being payable to a transferor.S. 57 in force at 21.2.2009 in so far as not already in force by S.I. 2009/296, arts. 2, 3, Sch. para. 1Pt. 1 restricted (7.1.2010) by Banking Act 2009 (Exclusion of Insurers) Order 2010 (S.I. 2010/35), arts. 1, 2S. 57 in force at 17.2.2009 for specified purposes by S.I. 2009/296, arts. 2, 3, Sch. para. 1Words in s. 57(4)(a) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 17 para. 26 (with Sch. 20); S.I. 2013/423, art. 3, Sch.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. 2Words in s. 57(1) inserted (31.12.2014) by Financial Services (Banking Reform) Act 2013 (c. 33), s. 148(5), Sch. 2 para. 6(7); S.I. 2014/3160, art. 2(1)(b)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), 7S. 57(3A) inserted (16.7.2025) by Bank Resolution (Recapitalisation) Act 2025 (c. 15), ss. 7(5), 8(2); S.I. 2025/872, reg. 2(g)