Section 48X(2)

The purpose of the valuation carried out under subsection (1) is to— ensure the full extent of any losses on the assets of the bank is recognised in the accounting records of the bank, and inform a decision by the Bank as to whether— additional consideration should be paid by a bridge bank or asset management vehicle for any property, rights or liabilities transferred by a property transfer instrument, or securities transferred by a share transfer instrument, or the Bank should exercise the power under section 48Y(1) to increase or reinstate any liability which has been reduced or cancelled by a resolution instrument.

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