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Article 40 - Structural separation

Comparing 08/07/2016 → 28/07/2016: 0 added, 0 removed, 4 changed Close comparison

1. 1. The independent valuer shall be a person separate from any relevant public authority, including the resolution authority, and the relevant entity.

2. 2. For the purposes of paragraph 1, the following requirements shall apply:

((a))(a) in relation to natural persons, the independent valuer shall not be an employee or contractor of any relevant public authority or the relevant entity;

((b))(b) in relation to legal persons, the independent valuer shall not belong to the same group of companies as any relevant public authority or the relevant entity.

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