(1) The valuation and report must be made by a person (“the valuer”) who—
(a) is eligible for appointment as a statutory auditor (see section 1212), and
(b) meets the independence requirement in section 1151.
(2) However, where it appears to the valuer to be reasonable for the valuation of the consideration, or part of it, to be made by (or for him to accept a valuation made by) another person who—
(a) appears to him to have the requisite knowledge and experience to value the consideration or that part of it, and
(b) is not an officer or employee
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