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Article 40 Structural separation

  1. (1)

    The independent valuer shall be a person separate from any relevant public authority, including the resolution authority, and the relevant entity.

  2. (2)

    For the purposes of paragraph 1, the following requirements shall apply:

    1. (a)

      in relation to natural persons, the independent valuer shall not be an employee or contractor of any relevant public authority or the relevant entity;

    2. (b)

      in relation to legal persons, the independent valuer shall not belong to the same group of companies as any relevant public authority or the relevant entity.