Definitive valuation

(1) A valuation that does not satisfy all the requirements of sections 70 to 73 is treated as a provisional valuation until an independent expert valuer under section 70 has carried out a definitive valuation satisfying all the requirements of sections 70 to 73. The resolution authority arranges for the definitive valuation to be carried out without delay.
(2) The definitive valuation may be carried out separately from, or at the same time as, the valuation under section 146, by the independent expert valuer. It must, however, be carried out separately in substance from the valuation under section 146.
(3) In addition to the purposes under section 71, the definitive valuation serves 1. to ensure that all losses in respect of the assets of the institution or group entity are fully recognised in its books, and 2. as the basis for deciding whether the claims of creditors or holders of relevant capital instruments are to be written up again, or whether the value of the consideration to be paid is to be increased.
(4) Where the estimate of the net asset value of the institution or group entity carried out under the definitive valuation is higher than the estimate of the net asset value carried out under the provisional valuation, the resolution authority may 1. exercise its power to write up again the value of the claims of creditors and holders of relevant capital instruments that were written down, on the basis of the provisional valuation, through the application of the instrument for the participation of holders of relevant capital instruments and the creditor participation instrument; 2. instruct the bridge institution or the asset management vehicle to make an additional appropriate payment, as further consideration in respect of the assets, rights, or liabilities, to the institution or group entity under resolution, or, in respect of shares or instruments of ownership, to the holders of the shares or other instruments of ownership.