Bank of England and Financial Services Act 2016 (c. 14)

SCHEDULES

SCHEDULE 2 Amendments relating to Part 1

PART 1 Bank of England Act 1998

4 (1) Section 3A (oversight functions) is amended as follows.

(2) In subsection (2)(a)—

(a) in sub-paragraph (i), after “Act” insert “, the objectives specified in relation to the Prudential Regulation Authority in Part 1A of the Financial Services and Markets Act 2000”;

(b) omit the “and” at the end of sub-paragraph (ii);

(c) for sub-paragraph (iii) substitute—

“(iii) the Bank’s strategy determined under section 2,

(iv) the Bank’s financial stability strategy determined under section 9A, and

(v) the strategy of the Prudential Regulation Authority determined under section 2E of the Financial Services and Markets Act 2000;”.

(3) In subsection (4) omit paragraphs (c) to (h).