Related provisions for SUP 18.2.22

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SUP 18.2.19GRP
The suitability of a person to act as an independent expert depends on the nature of the scheme and the firms concerned. On the basis of the preliminary information supplied by the scheme promoters (and any other knowledge it has of the circumstances and the firms), the appropriate regulator8 will consider what skills are needed to make a proper report on the scheme and what criteria should therefore be applied to the choice of independent expert. The appropriate regulator8 will
SUP 18.2.20GRP
Under section 107(2) of the Act, the application to the court may be made by the transferor or the transferee or both. As soon as reasonably practical, the intended applicant should choose their nominee for independent expert in the light of any criteria advised by the appropriate regulator. The intended applicant(s) should then advise the appropriate regulator of their choice, unless the appropriate regulator8 wishes them to defer nomination or to make its own nomination. The
SUP 18.2.21GRP
The regulators8 may wish to have preliminary discussions with the nominee about the transfer before the appropriate regulator determines if8 he is suitably qualified to address issues arising from the transfer. The regulators8 will consider the suitability of the nominee and the appropriate regulator will8 inform the firm that nominated him whether he has been approved8. Since the nature of the scheme is a factor in determining the suitability of the nominee, the appropriate regulator8
SUP 18.2.32GRP
There may be matters relating to the scheme or the parties to the transfer that the regulators wish8 to draw to the attention of the independent expert. The regulators8 may also wish the report to address particular issues. The independent expert should therefore contact the regulators8 at an early stage to establish whether there are such matters or issues. The independent expert should form his own opinion on such issues, which may differ from the opinion of the regulators8
SUP 18.2.52GRP
The scheme report will be an important factor in the view each of the regulators8 forms on a scheme. Considerable reliance will be placed8 on the opinions of the independent expert and the reasons for them. However each regulator8 will form its own view taking into account other relevant8 information and having regard to its statutory objectives.888