The Treasury shall appoint an independent valuer for the purposes of this Scheme.

The valuer so appointed shall determine the amount of any compensation payable by the Treasury in accordance with Part 2 of this Scheme.

The valuer is to hold and vacate office in accordance with the terms of his appointment.

The Treasury may remove the valuer only on the ground of incapacity or serious misbehaviour.

Before making any appointment under sub-paragraph (1) the Treasury must consult the Institute of Chartered Accountants in England and Wales.