Status: Please note you should read all Brexit changes to the FCA Handbook and BTS alongside the main FCA transitional directions. Where these directions apply the 'standstill', firms have the choice between complying with the pre-IP completion day rules, or the post-IP completion day rules. To see a full list of Handbook modules affected, please see Annex B to the main FCA transitional directions.

Article 39 Qualifications, experience, ability, knowledge and resources

  1. (1)

    The independent valuer shall possess the necessary qualifications, experience, ability and knowledge in all matters considered relevant by the appointing authority.

  2. (2)

    The independent valuer shall hold, or have access to, such human and technical resources as the appointing authority considers appropriate to carry out the valuation. The assessment of adequacy of resources shall take into account the nature, size and complexity of the valuation to be performed.

  3. (3)

    In relation to the conduct of the valuation the independent valuer shall not:

    1. (a)

      seek nor take instructions or guidance from any relevant public authority or the relevant entity;

    2. (b)

      seek nor accept financial or other advantages from any relevant public authority or the relevant entity.

  4. (4)

    Paragraph 3 shall not prevent:

    1. (a)

      the provision of instructions, guidance, premises, technical equipment or other forms of support where, in the assessment of the appointing authority, or such other authority as may be empowered to conduct this task in the United Kingdom, this is considered necessary for achieving the goals of the valuation;

    2. (b)

      the payment to the independent valuer of such remuneration and expenses as are reasonable in connection with the conduct of the valuation.