(1) A power or duty in this Part to make a third party compensation order is a power or duty to make provision establishing a scheme for paying compensation to persons other than a transferor.
(2) A third party compensation order may -
(a) form part of a compensation scheme order or resolution fund order, or
(b) be a separate order.
(3) A third party compensation order may include provision for -
(a) an independent valuer (in which case sections 54 to 56 shall apply);
(b) valuation principles (in which case section 57(2) to (5) shall apply).