OpenLegislation

Article 40 Structural separation

United Kingdom

Original text. Later amendments are not shown.

1.

The independent valuer shall be a person separate from any relevant public authority, including the resolution authority, and the relevant entity.

2.

For the purposes of paragraph 1, the following requirements shall apply:

(a)

in relation to natural persons, the independent valuer shall not be an employee or contractor of any relevant public authority or the relevant entity;

(b)

in relation to legal persons, the independent valuer shall not belong to the same group of companies as any relevant public authority or the relevant entity.