Pressure regulating valve for aircraft engine

A fluid pressure regulating valve for an aircraft engine, the valve having at least a first fluid inlet, a first bypass fluid outlet and a second fluid outlet, the valve comprising:

• a valve housing having a first valve spool interior cavity;
• a first fluid path within the valve housing from the fluid inlet to the first fluid outlet;
• a second fluid path within the valve housing from the fluid inlet to the second fluid outlet;
• a first valve spool mounted for reciprocal motion within the first valve spool cavity between a first position and a second position, the first valve spool having a second valve spool interior cavity and being spring-biased to its first position in which the first valve spool closes the first fluid path;
• and
• a second valve spool mounted for reciprocal motion within the second valve spool cavity between a first position and a second position, the second valve spool being spring-biased to its first position to open the second fluid path concurrently with the first valve spool in its first position, the second valve spool closing the second fluid path at its second position when the first valve spool closes the first fluid path in its first position.