# The Banking Act 2009 (Third Party Compensation Arrangements for Partial Property Transfers) Regulations 2009, Regulation 6: Mandatory provisions – choice of insolvency process

Extent: E+W+S+N.I.

A third party compensation order in relation to a partial property transfer must include either—
(a) a provision specifying that the independent valuer must assess the insolvency treatment as required under regulation 5(2) on the basis that the banking institution had entered a particular insolvency process specified in the order; or
(b) a provision specifying that the independent valuer must determine what insolvency process it is likely that the banking institution would have entered, had the following instrument or order not been made—
(i) in the case of Case 1 (as specified in regulation 2(2)), the partial property transfer;
(ii) in the case of Case 2 (as specified in regulation 2(3)), the property transfer instrument made in accordance with section 11(2) , 12(2) or 12ZA(3) of the Act;
(iii) in the case of Case 3 (as specified in regulation 2(4)), the share transfer order made in accordance with section 13(2) of the Act ...;
(iv) in the case of Case 4 (as specified in regulation 2(4A)), the resolution instrument made in accordance with section 12A(2) of the Act (or if more than one instrument has been made, the first resolution instrument made in accordance with that section);
(v) in the case of Case 5 (as specified in regulation 2(4B)), the third-country instrument made in accordance with 89H(2)(a) or (c);
(vi) in the case of Case 6 (as specified in regulation 2(4C), the share transfer instrument made in accordance with section 12(2).

---
Source: https://www.legislation.gov.uk/uksi/2009/319/regulation/6 (the official version)
Page: https://openlegislation.uk/banking-act-2009-third-party-compensation-arrangements-for-partial-property-transfers-regulations-2009/regulation-6
Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives.