Section 596(3)

The valuer's report must contain or be accompanied by a note by him— in the case of a valuation made by a person other than himself, that it appeared to himself reasonable to arrange for it to be so made or to accept a valuation so made, whoever made the valuation, that the method of valuation was reasonable in all the circumstances, that it appears to the valuer that there has been no material change in the value of the consideration in question since the valuation, and that, on the basis of the valuation, the value of the consideration, together with any cash by which the nominal value of the shares or any premium payable on them is to be paid up, is not less than so much of the aggregate of the nominal value and the whole of any such premium as is treated as paid up by the consideration and any such cash.

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Source: legislation.gov.uk · retrieved 2026-09-04