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Consultations & legislation
The Treasury are inviting applications for the position of independent valuer to perform the functions referred to in article 4 of the Dunfermline Building Society Compensation Scheme, Resolution Fund and Third Party Compensation Order 2009 (S.I. 2009/1800).
Further details on what is involved and how to apply can be found in the application brief which is available in Adobe Acrobat Portable Document Format (PDF). If you do not have Adobe Acrobat installed on your computer you can download the software free of charge from the Adobe website. For alternative ways to read PDF documents and further information on website accessibility visit the HM Treasury accessibility page.
The closing date for applications is 14 October 2009. Shortlisted applicants will be invited to make a presentation to an appointment panel in November.
The deadline for applicants has been extended from 14 October 2009 to 26 October.
Anyone considering applying for the position of independent valuer may seek further information by email to valuer.enquiries@hm-treasury.gov.uk no later than 16 October 2009. Any further information which is provided is likely to be appended to this web page for the benefit of all potential applicants.
On 30 March 2009 the Bank of England exercised its powers under the Banking Act 2009 to transfer some of property, rights and liabilities (“business”) of Dunfermline Building Society (“Dunfermline”) (a) to Nationwide Building Society and (b) to a bridge bank (wholly owned and controlled by the Bank of England). This action was taken in the interests of financial stability and the transfers were effected by virtue of the Dunfermline Building Society Property Transfer Instrument. Following these transfers Dunfermline was placed into building society special administration.
On 6 July 2009 an Order came into force putting in place the compensation arrangements in accordance with the provisions of the Banking Act 2009: the Dunfermline Building Society Compensation Scheme, Resolution Fund and Third Party Compensation Order 2009 (S.I. 2009/1800) (“the Compensation Order”). The Compensation Order provides for the appointment of an independent valuer to perform the functions referred to in article 4 of that Order. An Order has also been made setting out detailed provision in connection with the independent valuer to be appointed under the Compensation Order (the Dunfermline Building Society Indpendent Valuer Order 2009 (S.I. 2009/1810)).
Paragraph 59 of the brief for applicants invites questions seeking clarification of any aspects of brief and states that any such information provided, or a summary of this information, will be published on the Treasury web site, for the benefit of other potential applicants.
