Section 48Y(1)

Where the independent valuation carried out under section 48X(1) produces a higher valuation of the net asset value of the bank than a provisional valuation carried out under section 6E(3), the Bank of England may— modify any liability of the bank which has been reduced, deferred or cancelled by a mandatory reduction instrument or a resolution instrument so as to increase or reinstate that liability; or instruct a resolution company to pay additional consideration— to the bank for any property, rights or liabilities transferred to the resolution company by a property transfer instrument, or to the previous holders of securities issued by the bank for any securities transferred to the resolution company by a share transfer instrument.

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