Part 1Special Resolution Regime
Chapter 3 Special resolution action
Compensation
59Third party compensation: discretionary provision
(1)
A power or duty in this Part to make a third party compensation order is a power or duty to make provision establishing a scheme for paying compensation to persons other than a transferor.
(2)
A third party compensation order may—
(a)
form part of a compensation scheme order or resolution fund order, or
(b)
be a separate order.
(3)
A third party compensation order may include provision for—
(a)
an independent valuer (in which case sections 54 to 56 shall apply);
(b)
valuation principles (in which case section 57(2) to (5) shall apply).