Article 20 1.

Before deciding on resolution action or the exercise of the power to write down or convert relevant ►M1  capital instruments and eligible liabilities in accordance with Article 21 ◄ , the Board shall ensure that a fair, prudent and realistic valuation of the assets and liabilities of an entity referred to in Article 2 is carried out by a person independent from any public authority, including the Board and the national resolution authority, and from the entity concerned.