(1) Where -
(a) due to the urgency of the circumstances of the case it is not possible to comply with the requirements in Regulation 65(7) and (9), or
(b) where paragraph (3) of Regulation 65 applies,
a provisional valuation shall be carried out which shall -
(i) comply with the requirements of paragraph (4) of Regulation 65 and insofar as reasonably practicable in the circumstances with the requirements of paragraphs (1), (2), (7) and (9) of that Regulation, and
(ii) include a buffer for additional losses with appropriate justification.
(2) A valuation that does not comply with all the requirements set out in Regulation 65 or this Regulation shall be considered to be provisional until an independent person has carried out a valuation (in this Regulation, referred to as the "definitive valuation") that is fully compliant with all the requirements set out in that Regulation and this Regulation.
(3) The definitive valuation -
(a) shall be carried out as soon as practicable, and
(b) may
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