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Version date: 1 January 2015 - onwards
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58. Resolution fund

(1) A resolution fund order must include provision for determining -

(a) who will be entitled to a share of the proceeds on disposal of things transferred,

(b) the way in which the proceeds will be calculated, and

(c) the way in which shares will be calculated.

(2) Provision under subsection (1)(b) may, in particular, provide for proceeds to be calculated net of -

(a) amounts required for the repayment of loans from public funds or for other payments in respect of public financial assistance;

(b) some or all of the administrative or other expenses incurred in connection with the provisions of this Part.

(3) A resolution fund order may include provision for -

(a) an independent valuer to make a determination under the order (in which case sections 54(2) to (5), 55 and 56 shall apply);

(b) valuation principles to be applied in making a determination (in which case section 57(2) shall apply).

(4) A resolution fund order may confer a discretionary function on -

(a) a Minister of the Crown,

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