(1) Subsection (2) applies if the Bank of England makes -
(a) a resolution instrument under section 12A(2), or
(b) a property transfer instrument under section 41A(2).
(2) The Treasury must make a bail-in compensation order (see section 49(2A)).
(3) A bail-in compensation order may include provision for -
(a) an independent valuer (in which case sections 54 to 56 are to apply);
(b) valuation principles (in which case section 57(2) to (5) is to apply).