SCHEDULES

SCHEDULE 3 Monetary Policy Committee

Removal of appointed members

7

A person appointed under section 13(2)(b) or (c) shall vacate office if he becomes a person to whom paragraph 5(a) or (b) applies.

8

A person appointed under section 13(2)(b) shall vacate office if he ceases to F4carry out monetary policy analysis within the Bank F5....

9

1

The F6court of directors of the Bank may, with the consent of the Chancellor of the Exchequer, remove a member appointed under section 13(2)(b) or (c) if it is satisfied—

a

that he has been absent from the F73 or more meetings of the Monetary Policy Committee without F2that Committee's consent,

b

that he has become bankrupt F1, that a debt relief order (under Part 7A of the Insolvency Act 1986) has been made in respect of him, that his estate has been sequestrated or that he has made an arrangement with or granted a trust deed for his creditors, or

c

that he is unable or unfit to discharge his functions as a member.

F81A

The court of directors may, with the consent of the Chancellor of the Exchequer, also remove a member appointed under section 13(2)(c) if it is satisfied that in all the circumstances his financial or other interests are such as substantially to affect the functions as member which it would be proper for him to discharge.

F32

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