OpenLegislation

Regulation 7 Proposals for and appointment of a valuerI1

England, Wales and Scotland

(1)

In proposing or appointing a valuer the Secretary of State and the transferor must have regard to—

(a)

the extent to which the valuer has relevant experience of the regulated energy or infrastructure sector in Great Britain;

(b)

the extent to which the valuer has relevant experience of performing valuation work of complex, high value businesses;

(c)

the extent to which the valuer is sufficiently resourced to carry out the compensation determination as soon as practicable after being appointed;

(d)

whether the valuer has appropriate professional indemnity insurance;

(e)

any conflicts of interest of the valuer which might arise between its engagement in determining the compensation and its provision of other services;

(f)

whether the valuer has appropriate measures in place to mitigate any conflicts of interest.

(2)

The valuer may be an individual or an organisation.

Annotations

Commencement

I1

Reg. 7 in force at 5.3.2024, see reg. 1(2) (as amended by S.I. 2024/134, reg. 2)