Steel Industry (Nationalisation) Act 2026
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Change 1
56 Independent valuer etc: remuneration
(1) Compensation scheme regulations may provide for the payment by the Secretary of State of remuneration and allowances to— (a) an independent valuer and their staff, (b) a person designated by virtue of section 53(3) to appoint an independent valuer, and (c) persons appointed by virtue of subsection (2)(a). (2) Compensation scheme regulations may— (a) provide for the appointment by the Secretary of State of a person to monitor the operation of the arrangements for remuneration and allowances for an independent valuer; (b) require the approval of a person appointed by virtue of paragraph (a) before things specified in the regulations may be done in the course of those arrangements. (3) The reference in subsection (1) to the payment of allowances to a person includes a reference to the payment to or in respect of the person of sums by way of or in respect of pension. (4) Regulations made in reliance on subsection (1) may include provision— (a) about records and accounts; (b) about numbers of staff and the terms and conditions of their appointment (which may include provision requiring the approval of the Secretary of State). (5) An independent valuer (and its staff) is not liable for damages in respect of anything done in good faith for the purposes of or in connection with the functions of the appointment (subject to section 8 of the Human Rights Act 1998).
56 Independent valuer etc: remuneration
(1) Compensation scheme regulations may provide for the payment by the Secretary of State of remuneration and allowances to— (a) an independent valuer and their staff, (b) a person designated by virtue of section 53(3) to appoint an independent valuer, and (c) persons appointed by virtue of subsection (2)(a). (2) Compensation scheme regulations may— (a) provide for the appointment by the Secretary of State of a person to monitor the operation of the arrangements for remuneration and allowances for an independent valuer; (b) require the approval of a person appointed by virtue of paragraph (a) before things specified in the regulations may be done in the course of those arrangements. (3) The reference in subsection (1) to the payment of allowances to a person includes a reference to the payment to or in respect of the person of sums by way of or in respect of pension. (4) Regulations made in reliance on subsection (1) may include provision— (a) about records and accounts; (b) about numbers of staff and the terms and conditions of their appointment (which may include provision requiring the approval of the Secretary of State). (5) An independent valuer (and its staff) is not liable for damages in respect of anything done in good faith for the purposes of or in connection with the functions of the appointment (subject to section 8 of the Human Rights Act 1998).
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