Paragraph 8 Assessment of compensation: remaining creditors
The Treasury must notify the independent valuer as soon as is reasonably practicable after giving the notification under paragraph 6(1) of Schedule 1 that the notification has been made.
As soon as is reasonably practicable following the receipt of the notification under sub-paragraph (1) the independent valuer must assess the actual treatment of remaining creditors, including by virtue of any payment to be made—
to Dunfermline from the Dunfermline Resolution Account; and
in accordance with a determination of the independent valuer under paragraph 3.
If the independent valuer considers that, in relation to any remaining creditor, the actual treatment is less favourable than the insolvency treatment, the independent valuer must determine the amount of compensation payable to the remaining creditor.
The independent valuer must assess the compensation payable—
by reference to the difference between the insolvency treatment and the actual treatment; and
on the basis of the fair and equitable value of that difference in treatment.