[(1) This section supplements sections 214B and 214C.
(2) The scheme manager must determine—
(a) the amounts of expenses (other than interest) that would have been incurred as mentioned in section 214C(3)(a); and
(b) the time or times at which those amounts would have been likely to have been incurred.
(3) The Treasury, or a person designated by the Treasury, must in accordance with regulations appoint a person (“the valuer”) to determine—
(a) the amounts that would have been likely, at the time when the stabilisation power was exercised, to be recovered as mentioned in section 214C(3)(b); and
(b) the time or times at which those amounts would have been likely to be recovered.
The person appointed under this subsection may be the person appointed as valuer under section 54 of the Banking Act 2009 in respect of the exercise of the stabilisation power.
(4) Regulations may enable the Treasury to specify principles to be applied by—
(a) the scheme manager when exercising functions under subsection (2); or
(b) the valuer when exercising functions under subsection (3).
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
Existing user? Sign-in
Take a free trial
Take a free trial
This Practice Note considers the nature and scope of arbitration agreements with a particular focus on arbitration agreements pursuant to the law of England and Wales, although it also discusses the concept from an international perspective and includes some comparative examples from other
This Practice Note covers the legal framework and regulatory guidance to be considered in determining whether an arrangement constitutes a contract of insurance and the possible consequences of carrying on activities relating to a contract of insurance without the requisite regulatory permissionsThe
Statutory declaration of solvencyA company enters voluntary liquidation when the members of the company vote to do so by a special resolution. For more information, see Practice Note: What is a members' voluntary liquidation (MVL) and where/when is it typically used?Before the members can vote on a
This Practice Note provides guidance on claims for ‘use and occupation’ or mesne profits, and how and when double rent or double value can be claimed.Claims for use and occupationA claim for use and occupation is possible where there is occupation of land without an express agreement fixing the
0330 161 1234