The Banking Act 2009 (Mandatory Compensation Arrangements Following Bail-in) Regulations 2014
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7 Mandatory provisions: choice of insolvency process
A relevant compensation order must include either— (a) a provision specifying that the independent valuer must assess the insolvency treatment as required under regulation 7(2) on the basis that the relevant banking institution entered a particular insolvency process specified in the order, or (b) a provision specifying that the independent valuer must determine what insolvency process it is likely that the banking institution would have entered, had the initial instrument not been made.
7 Mandatory provisions: choice of insolvency process
A relevant compensation order must include either— (a) a provision specifying that the independent valuer must assess the insolvency treatment as required under regulation 7(2) on the basis that the relevant banking institution entered a particular insolvency process specified in the order, or (b) a provision specifying that the independent valuer must determine what insolvency process it is likely that the banking institution would have entered, had the initial instrument not been made.
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