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Bank of England Act 1998

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SCHEDULES

Section 1.

SCHEDULE 1E+W+S+N.I. Court of directors

Terms of officeE+W+S+N.I.

1(1)Appointment as Governor or Deputy Governor of the Bank shall be for a period of 5 years.E+W+S+N.I.

(2)A person appointed as Governor or Deputy Governor of the Bank shall work exclusively for the Bank.

2Appointment as director of the Bank shall be for a period of 3 years, except that initially some appointments may be for shorter and different periods so as to secure that appointments expire at different times.E+W+S+N.I.

3A person appointed as director of the Bank in place of a person who ceased to hold office before the end of the term for which he was appointed shall be appointed for the remainder of that person’s term of office.E+W+S+N.I.

4A person appointed as Governor, Deputy Governor or director of the Bank may resign his office by written notice to the Bank.E+W+S+N.I.

Qualification for appointmentE+W+S+N.I.

5(1)A person is disqualified for appointment as Governor, Deputy Governor or director of the Bank if he is a Minister of the Crown or a person serving in a government department in employment in respect of which remuneration is payable out of money provided by Parliament.E+W+S+N.I.

(2)A person is disqualified for appointment as director of the Bank if he is a servant of the Bank.

6The fact that a person has held office as Governor, Deputy Governor or director of the Bank does not disqualify him for re-appointment to that office or for appointment to any other of those offices.E+W+S+N.I.

Removal from officeE+W+S+N.I.

7(1)A person appointed as Governor or Deputy Governor of the Bank shall vacate office if he becomes a person to whom paragraph 5(1) applies.E+W+S+N.I.

(2)A person appointed as director of the Bank shall vacate office if he becomes a person to whom paragraph 5(1) or (2) applies.

8The Bank may, with the consent of the Chancellor of the Exchequer, remove a person from office as Governor, Deputy Governor or director of the Bank if it is satisfied—E+W+S+N.I.

(a)that he has been absent from meetings of the court for more than 3 months without the consent of the court,

(b)that he has become bankrupt, 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.

PowersE+W+S+N.I.

9The court may act notwithstanding the existence of one or more vacancies among its members.E+W+S+N.I.

10The court may appoint such sub-committees as it thinks fit.E+W+S+N.I.

11The court may delegate such duties and powers as it thinks fit to—E+W+S+N.I.

(a)a member of the court,

(b)any officer, servant or agent of the Bank,

(c)a sub-committee consisting of—

(i)members of the court, or

(ii)one or more members of the court and one or more of the officers, servants and agents of the Bank.

MeetingsE+W+S+N.I.

12(1)The court shall meet at least once a month.E+W+S+N.I.

(2)The Governor of the Bank (or in his absence a Deputy Governor of the Bank) may summon a meeting at any time on giving such notice as in his judgment the circumstances may require.

ProceedingsE+W+S+N.I.

13(1)At a meeting of the court, the proceedings shall be regulated as follows.E+W+S+N.I.

(2)The quorum shall be 9.

(3)The chair shall be taken by the Governor of the Bank or, if he is not present, by the director of the Bank who is for the time being designated under subsection (4) of section 3 to chair the sub-committee constituted by that section.

(4)If a member of the court has any direct or indirect interest in any dealing or business with the Bank—

(a)he shall disclose his interest to the court at the time of the dealing or business being negotiated or transacted, and

(b)he shall have no vote in relation to the dealing or business, unless the court has resolved that the interest does not give rise to a conflict of interest.

(5)A member of the court shall have no vote in relation to any question arising which touches or concerns him but shall withdraw and be absent during the debate of any matter in which he is concerned.

(6)Subject to sub-paragraphs (2) to (5), the court shall determine its own procedure.

RemunerationE+W+S+N.I.

14(1)A person appointed as Governor or Deputy Governor of the Bank shall be entitled to be paid by the Bank such remuneration as it may determine.E+W+S+N.I.

(2)The Bank may pay, or create and maintain a fund for the payment of, pensions or capital grants to members, or former members, of the court who have rendered exclusive services to the Bank.

15A director of the Bank shall be entitled to be paid by the Bank such remuneration as the Bank may determine with the approval of the Chancellor of the Exchequer.E+W+S+N.I.

Section 6.

SCHEDULE 2E+W+S+N.I. Cash ratio deposits

Eligible institutionsE+W+S+N.I.

1[F1(1)Each deposit-taker is an eligible institution for the purposes of this Schedule.E+W+S+N.I.

(1A)“Deposit-taker” has the meaning given in section 17, except that it does not include—

(a)a credit union;

(b)a friendly society;

(c)a person who has permission to accept deposits under Part 4 of the Financial Services and Markets Act 2000 only in the course of effecting or carrying out contracts of insurance in accordance with that permission; or

(d)an EEA firm of the kind mentioned in paragraph 5(c) of Schedule 3 to that Act.

(1B)“Credit union” has the meaning given—

(a)by the Credit Unions Act 1979; or

(b)in Northern Ireland, by the Credit Unions (Northern Ireland) Order 1985.

(1C)“Friendly society” means—

(a)a society which is registered within the meaning of the Friendly Societies Act 1974; or

(b)a society incorporated under the Friendly Societies Act 1992.]

(2)The Treasury may by order amend [F2sub-paragraphs (1) to (1C)] as they think fit.

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Amendments (Textual)

F1Sch. 2 para. 1(1)-(1C) substituted (1.12.2001) for para. 1(1) by S.I. 2001/3649, arts. 1, 163(1)

F2Words in Sch. 2 para. 1(2) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 163(2)

Liability baseE+W+S+N.I.

2(1)For the purposes of this Schedule, the liability base of an eligible institution at any time is the aggregate of those sterling and foreign currency liabilities of the institution which are eligible liabilities.E+W+S+N.I.

(2)The Treasury may by order define eligible liabilities for the purposes of this paragraph and make provision about the calculation of any description of eligible liability, including provision for the amount of a liability of any description to be treated as reduced by the amount of an asset of any description.

Call noticesE+W+S+N.I.

3(1)The Bank may give an eligible institution notice under this paragraph.E+W+S+N.I.

(2)Notice under this paragraph (“a call notice”) shall be in writing and shall specify—

(a)the period to which it relates, and

(b)the amount which, in relation to that period, is the institution’s depositable amount.

(3)The period to be specified under sub-paragraph (2)(a)—

(a)shall be a period of 6 months beginning at least 4 working days after the date of the notice, and

(b)shall not include any part of a period specified in a previous call notice given to the institution concerned.

Calculation of depositable amountE+W+S+N.I.

4(1)In the case of any call notice, the amount to be specified under paragraph 3(2)(b) is the amount, or, as the case may be, the sum of the amounts, produced by multiplying so much of the institution’s average liability base for the reference period as falls into each value band by the ratio applicable to that band.E+W+S+N.I.

(2)The Bank may use such method to calculate an institution’s average liability base for the purposes of this paragraph as it thinks fit, and may use different methods for different institutions.

(3)For the purposes of this paragraph, value bands and the ratios applicable to them are such as may be specified under paragraph 5.

Value bands and applicable ratiosE+W+S+N.I.

5The Treasury may by order specify for the purposes of paragraph 4 value bands and the ratios applicable to them.E+W+S+N.I.

Effect of call noticeE+W+S+N.I.

6(1)Where the Bank has given an eligible institution a call notice, then, if at any time in the period to which the notice relates the following conditions are met, namely—E+W+S+N.I.

(a)the institution is an eligible institution, and

(b)the institution does not have on deposit in the appropriate account with the Bank the amount specified in the notice as its depositable amount in relation to that period,

the Bank may by notice in writing require the institution to make a payment in lieu of deposit.

(2)A notice under sub-paragraph (1) shall specify what period it covers, and the period specified must—

(a)fall within the period to which the call notice relates, and

(b)be a period throughout which the conditions mentioned in sub-paragraph (1) have been met.

(3)The amount which the Bank may by a notice under sub-paragraph (1) require an institution to pay is an amount equal to interest for the period covered by the notice, at 4% over the benchmark rate, on the average shortfall during that period.

(4)The Bank may use such method to calculate the average shortfall as it thinks fit.

(5)In sub-paragraph (1)(b), the reference to the appropriate account, in relation to an eligible institution, is to such account of the institution with the Bank as is designated by the Bank for the purposes of this Schedule.

(6)For the purposes of sub-paragraph (3), the shortfall, at any time, is the amount which the institution needs to deposit to prevent the condition mentioned in sub-paragraph (1)(b) applying.

Benchmark rate of interestE+W+S+N.I.

7(1)The benchmark rate of interest for the purposes of paragraph 6(3) shall be determined as follows.E+W+S+N.I.

(2)First, determine a rate of interest for each working day of the period covered by the notice under paragraph 6(1) by taking the average of the rates at which 3 month deposits in sterling are bid at 11.00 am on the day by the 5 eligible institutions having in the opinion of the Bank the largest eligible liabilities at the end of the reference period for the relevant call notice.

(3)Second, determine an average rate of interest by reference to the rates determined in accordance with sub-paragraph (2), the average rate so determined being the benchmark rate.

(4)In sub-paragraph (2), the reference to the relevant call notice is to the call notice by virtue of which the Bank is entitled to give the notice under paragraph 6(1).

8The Treasury may by order amend or replace paragraph 7.E+W+S+N.I.

Power to obtain informationE+W+S+N.I.

9(1)The Bank may by notice in writing require an eligible institution to provide the Bank with such information as may be specified in the notice, being information which the Bank considers it necessary or expedient to have for the purposes of its functions under this Schedule.E+W+S+N.I.

(2)A notice under sub-paragraph (1) may require information to be provided—

(a)in such form or manner as may be specified in the notice;

(b)at such time or times as may be so specified;

(c)in relation to such period or periods as may be so specified.

OrdersE+W+S+N.I.

10Before making an order under this Schedule, the Treasury shall consult—E+W+S+N.I.

(a)the Bank,

(b)such persons as appear to them to be representative of persons likely to be materially affected by the order, and

(c)such other persons as they think fit.

11In exercising the power to make orders under paragraph 2(2) or 5, the Treasury shall have regard to the financial needs of the Bank.E+W+S+N.I.

InterpretationE+W+S+N.I.

12In this Schedule—E+W+S+N.I.

  • reference period”, in relation to a call notice, means the period of 6 months ending immediately before the month in which the notice is given; and

  • working day” means any day other than a Saturday, a Sunday, Christmas Day, Good Friday or a day which is a bank holiday under the M1Banking and Financial Dealings Act 1971 in any part of the United Kingdom.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Marginal Citations

Modifications for new entrantsE+W+S+N.I.

13(1)In its application to the first call notice to be given to an institution or society after it becomes an eligible institution, this Schedule shall have effect with the following modifications.E+W+S+N.I.

(2)In paragraph 3(3)(a), after “period of” there is inserted “ not more than ”.

(3)In paragraph 7(2), for “the end of the reference period for the relevant call notice” there is substituted “ such time before the beginning of the period to which the relevant call notice relates as the Bank thinks fit ”.

(4)In paragraph 12, in the definition of “reference period”, for the words from “the period” to the end there is substituted “ such period prior to the notice as the Bank thinks fit ”.

Section 13.

SCHEDULE 3E+W+S+N.I. Monetary Policy Committee

Terms of office of appointed membersE+W+S+N.I.

1Appointment as a member of the Committee under section 13(2)(b) or (c) shall be for a period of 3 years, except that initially some appointments may be for shorter and different periods so as to secure that appointments expire at different times.E+W+S+N.I.

2A person appointed under section 13(2)(b) or (c) in place of a person who ceased to hold office before the end of the term for which he was appointed shall be appointed for the remainder of that person’s term of office.E+W+S+N.I.

3A person appointed under section 13(2)(b) or (c) may resign his office by written notice to the Bank.E+W+S+N.I.

4(1)A person who holds office as a member of the Committee under section 13(2)(c) shall be a servant of the Bank.E+W+S+N.I.

(2)The terms and conditions of service under sub-paragraph (1) shall be such as the Bank may determine.

(3)The function of determining terms and conditions of service under sub-paragraph (2) shall stand delegated to the sub-committee constituted by section 3.

Qualification for appointmentE+W+S+N.I.

5A person is disqualified for appointment under section 13(2)(b) or (c) if—E+W+S+N.I.

(a)he is a Minister of the Crown, or a person serving in a government department in employment in respect of which remuneration is payable out of money provided by Parliament, or

(b)he is a member of the court of directors of the Bank.

6The fact that a person has held office under section 13(2)(b) or (c) does not disqualify him for further appointment to such office.E+W+S+N.I.

Removal of appointed membersE+W+S+N.I.

7A 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.E+W+S+N.I.

8A person appointed under section 13(2)(b) shall vacate office if he ceases to have executive responsibility within the Bank for monetary policy analysis or, as the case may be, monetary policy operations.E+W+S+N.I.

9(1)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—E+W+S+N.I.

(a)that he has been absent from the Committee’s meetings for more than 3 months without the Committee’s consent,

(b)that he has become bankrupt, 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.

(2)The function of removing a member under sub-paragraph (1) shall stand delegated to the sub-committee constituted by section 3.

MeetingsE+W+S+N.I.

10(1)The Committee shall meet at least once a month.E+W+S+N.I.

(2)The Governor of the Bank (or in his absence the Deputy Governor of the Bank with executive responsibility for monetary policy) may summon a meeting at any time on giving such notice as in his judgment the circumstances may require.

ProceedingsE+W+S+N.I.

11(1)At a meeting of the Committee, the proceedings shall be regulated as follows.E+W+S+N.I.

(2)The quorum shall be 6, of whom 2 must hold office as Governor or Deputy Governor of the Bank.

(3)The chair shall be taken by the Governor of the Bank or, if he is not present, the Deputy Governor of the Bank with executive responsibility for monetary policy.

(4)Decisions shall be taken by a vote of all those members present at the meeting.

(5)In the event of a tie, the chairman shall have a second casting vote.

(6)Subject to sub-paragraphs (2) to (5), the Committee shall determine its own procedure.

12The Committee may, in relation to sub-paragraph (2), (3) or (4) of paragraph 11, determine circumstances in which a member who is not present at, but is in communication with, a meeting, is to be treated for the purposes of that sub-paragraph as present at it.E+W+S+N.I.

13A representative of the Treasury may attend, and speak at, any meeting of the Committee.E+W+S+N.I.

Report to court of directors of the BankE+W+S+N.I.

14The Committee shall submit a monthly report on its activities to the court of directors of the Bank.E+W+S+N.I.

Parliamentary disqualificationE+W+S+N.I.

15In Part III of Schedule 1 to the M2House of Commons Disqualification Act 1975 (other disqualifying offices), there is inserted at the appropriate place— “ Member of the Monetary Policy Committee of the Bank of England appointed under section 13(2)(b) or (c) of the Bank of England Act 1998. ”;E+W+S+N.I.

and a corresponding amendment is made in Part III of Schedule 1 to the M3Northern Ireland Assembly Disqualification Act 1975.

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Marginal Citations

Section 22.

SCHEDULE 4E+W+S+N.I. Transfer of functions: supplementary provisions

Continuity of exercise of functionsE+W+S+N.I.

1(1)The transfer of functions by this Part shall not affect the validity of anything done (or having effect as if done) by or in relation to the Bank before the day on which this Act comes into force (“the transfer day”).E+W+S+N.I.

(2)Anything which, immediately before the transfer day, is in the process of being done by or in relation to the Bank may, if it relates to any of the transferred functions, be continued by or in relation to the Authority.

(3)Anything done (or having effect as if done) by, or in relation to, the Bank before the transfer day for the purpose of, or in connection with, any of the transferred functions, shall, so far as is required for continuing its effect on and after that day, have effect as if done by, or in relation to, the Authority.

(4)Any reference to the Bank in any document constituting or relating to anything to which the foregoing provisions of this paragraph apply shall, so far as is required for giving effect to those provisions, be construed as a reference to the Authority.

(5)The Treasury may, in relation to any of the transferred functions, by order exclude, modify or supplement any of the foregoing provisions of this paragraph or make such other transitional provisions as they think necessary or expedient.

Transfer of staffE+W+S+N.I.

2The transfer of functions by this Part shall be regarded for the purposes of the M4Transfer of Undertakings (Protection of Employment) Regulations 1981 as the transfer of part of an undertaking, whether or not it would be so regarded apart from this provision.E+W+S+N.I.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Marginal Citations

Transfer of property, rights and liabilitiesE+W+S+N.I.

3(1)The Bank shall make a scheme under this paragraph for the transfer to the Authority of such of the Bank’s property, rights and liabilities as appear to the Bank appropriate to be so transferred in consequence of the transfer of functions by this Part.E+W+S+N.I.

(2)A scheme under this paragraph made by the Bank shall not be capable of coming into force unless it is approved by the Treasury.

(3)The Bank may not submit a scheme under this paragraph to the Treasury for their approval without the consent of the Authority.

(4)Where a scheme under this paragraph is submitted to the Treasury for their approval, they may, before approving it, make such modifications to it as appear to them to be appropriate.

(5)Where this sub-paragraph applies, the Treasury may, after consultation with the Bank and the Authority, make a scheme under this paragraph for the transfer to the Authority of such of the Bank’s property, rights and liabilities as appear to them appropriate to be so transferred in consequence of the transfer of functions by this Part.

(6)Sub-paragraph (5) applies if—

(a)the Bank fails, before such time as may be notified to it by the Treasury as the latest time for submission of a scheme under this paragraph, to submit such a scheme to them for their approval, or

(b)the Treasury decide not to approve a scheme that has been submitted to them by the Bank (either with or without modifications).

(7)A scheme under this paragraph shall come into force on such day as the Treasury may by order appoint.

(8)When a scheme under this paragraph comes into force, the property, rights and liabilities of the Bank to which the scheme relates shall, by virtue of this paragraph and without further assurance, be transferred to and vested in the Authority in accordance with the provisions of the scheme.

(9)The Bank shall provide the Treasury with all such information and other assistance as they may reasonably require for the purposes of, or otherwise in connection with, the exercise of any power conferred on them by this paragraph.

4(1)The property, rights and liabilities capable of being transferred in accordance with a scheme under paragraph 3 shall include property, rights and liabilities that would not otherwise be capable of being transferred or assigned by the Bank.E+W+S+N.I.

(2)The transfers authorised by sub-paragraph (1) include transfers which are to take effect as if there were—

(a)no such requirement to obtain any person’s consent or concurrence,

(b)no such liability in respect of a contravention of any other requirement, and

(c)no such interference with any interest or right,

as there would be, in the case of any transaction apart from this Act, by reason of provisions having effect (whether under any enactment or agreement or otherwise) in relation to the terms on which the Bank is entitled or subject in relation to any property, right or liability.

5(1)A scheme under paragraph 3 may also contain provision—E+W+S+N.I.

(a)for rights and liabilities to be transferred so as to be enforceable by or against both the Bank and the Authority,

(b)for the creation in favour of the Bank of an interest or right in or in relation to property transferred in accordance with the scheme,

(c)for giving effect to a transfer to the Authority in accordance with the scheme by the creation in favour of the Authority of an interest or right in or in relation to property retained by the Bank,

(d)for imposing on the Bank and the Authority obligations to enter into such written agreements with each other as may be specified in the scheme, and

(e)for imposing on either one of them obligations to execute such instruments in favour of the other as may be so specified.

(2)An obligation imposed by a provision included in a scheme by virtue of sub-paragraph (1)(d) or (e) shall be enforceable by civil proceedings by the Bank or the Authority for an injunction or for any other appropriate relief.

(3)A transaction of any description effected in pursuance of a provision included in a scheme by virtue of sub-paragraph (1)(d) or (e)—

(a)shall have effect subject to the provisions of any enactment which provides for transactions of that description to be registered in any statutory register, but

(b)subject to that, shall be binding on all other persons, notwithstanding that it would, apart from this provision, have required the consent or concurrence of any other person.

6(1)A scheme under paragraph 3 may make such supplemental, consequential and transitional provision for the purposes of, or in connection with, any transfer of property, rights or liabilities for which the scheme provides or in connection with any other provisions contained in the scheme as the Bank may consider appropriate.E+W+S+N.I.

(2)In particular, such a scheme may provide—

(a)that for purposes connected with any transfer made in accordance with the scheme (including the transfer of rights and liabilities under an enactment) the Authority is to be treated as the same person in law as the Bank,

(b)that, so far as may be necessary for the purposes of or in connection with any such transfer, agreements made, transactions effected and other things done by or in relation to the Bank are to be treated as made, effected or done by or in relation to the Authority,

(c)that, so far as may be necessary for the purposes of or in connection with any such transfer, references to the Bank in any agreement (whether or not in writing), deed, bond, instrument or other document are to have effect with such modifications as are specified in the scheme,

(d)that proceedings commenced by or against the Bank are to be continued by or against the Authority, and

(e)that the Bank and the Authority are to co-operate with each other for the purposes of and in connection with the scheme.

Section 23.

SCHEDULE 5E+W+S+N.I. Transfer of functions: consequential amendments

Part IE+W+S+N.I. Banking supervision

Chapter IE+W+S+N.I. Banking Act 1987

F31. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F3Sch. 5 para. 1 repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 162(b)

2F4. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

F4Sch. 5 para. 2 repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 162(b)

F53. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F5Sch. 5 para. 3 repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 162(b)

F64. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F6Sch. 5 para. 4 repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 162(b)

F75. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F7Sch. 5 para. 5 repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 162(b)

F86. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F8Sch. 5 para. 6 repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 162(b)

F97. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F9Sch. 5 para. 7 repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 162(b)

F108. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F119. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F1210. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F1311. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F1412. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F1513. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F1614. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F1715. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F1816. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F1917. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F2018. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F2119. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F2220. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Chapter IIE+W+S+N.I. Banking Coordination (Second Council Directive) Regulations 1992

F2321. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F2422. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F2523. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F2624. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F2725. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F2826. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F2927. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F3028. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F3129. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F3230. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F3331. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F3432. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F3533. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F3634. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F3735. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Chapter IIIE+W+S+N.I. Other Enactments

Consumer Credit Act 1974 (c. 39)E+W+S+N.I.

36In the Consumer Credit Act 1974, in section 16(3)(f), for “Bank of England” there is substituted “ Financial Services Authority ”.E+W+S+N.I.

Insolvency Act 1986 (c. 45)E+W+S+N.I.

37In the Insolvency Act 1986, in section 422(1), for “Bank of England” there is substituted “ Financial Services Authority ”.E+W+S+N.I.

Building Societies Act 1986 (c. 53)E+W+S+N.I.

38(1)Section 101 of the Building Societies Act 1986 is amended as follows.E+W+S+N.I.

(2)In subsection (4), for “Bank”, in both places, there is substituted “ Authority ”.

(3)In subsection (6)—

(a)for the definition of “the Bank” there is substituted—

  • the Authority” means the Financial Services Authority, and

(b)in paragraph (c) of the definition of “financial institution”, for “Bank” there is substituted “ Authority ”.

Financial Services Act 1986 (c. 60)E+W+S+N.I.

F3839. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Insolvency (Northern Ireland) Order 1989 S.I. 1989/2405 (N.I. 19)E+W+S+N.I.

40In the Insolvency (Northern Ireland) Order 1989, in Article 366, for “Bank of England” there is substituted “ Financial Services Authority ”.E+W+S+N.I.

Courts and Legal Services Act 1990 (c. 41)E+W+S+N.I.

41(1)The Courts and Legal Services Act 1990 is amended as follows.E+W+S+N.I.

(2)In sections 37(8)(a) and 48(4)(a), the words “by the Bank of England” are omitted.

(3)In section 52(6)—

(a)in paragraph (a), the words “by the Bank of England” are omitted, and

(b)for “with the Bank of England” there is substituted “ with the Financial Services Authority ”.

(4)In section 54(1), in the inserted subsection (2)(e)(i), the words “by the Bank of England,” are omitted.

Charities Act 1993 (c. 10)E+W+S+N.I.

42In the Charities Act 1993, in section 28(8)(b)(ii), for “Bank of England” there is substituted “ Financial Services Authority ”.E+W+S+N.I.

Building Societies Act 1997 (c. 32)E+W+S+N.I.

43(1)Section 32 of the Building Societies Act 1997 is amended as follows.E+W+S+N.I.

(2)In subsection (1), for “Bank” there is substituted “ Authority ”.

(3)In subsection (3)(a), for “Governor of the Bank” there is substituted “ Chairman of the Authority ”.

(4)In subsection (7), for the definition of “the Bank” there is substituted—

  • the Authority” means the Financial Services Authority.

Part IIE+W+S+N.I. Supervision under section 43 of the Financial Services Act 1986

Financial Services Act 1986 (c. 60)E+W+S+N.I.

F3944. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Investment Services Regulations 1995 (S.I. 1995/3275)E+W+S+N.I.

F4045. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Part IIIE+W+S+N.I. Supervision under section 171 of the Companies Act 1989

Companies Act 1989 (c. 40)E+W+S+N.I.

46The Companies Act 1989 is amended as follows.E+W+S+N.I.

F4147. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

48(1)Section 176 is amended as follows.E+W+S+N.I.

(2)In subsection (2)(b), for “Bank of England” there is substituted “ Financial Services Authority ”.

(3)For subsection (6) there is substituted—

(6)Before making regulations under this section relating to a description of charges defined by reference to their being granted in favour of a person included in the list maintained by the Financial Services Authority for the purposes of section 171, or in connection with exchange facilities or clearing services provided by a person included in that list, the Secretary of State and the Treasury shall consult the Authority and the Bank of England.

(6A)Before making regulations under this section relating to a description of charges defined by reference to their being granted in favour of the Bank of England, or in connection with settlement arrangements provided by the Bank, the Secretary of State and the Treasury shall consult the Bank.

Companies (No. 2) (Northern Ireland) Order 1990 (S.I. 1990/1504 (N.I. 10))E+W+S+N.I.

49(1)The Companies (No. 2) (Northern Ireland) Order 1990 is amended as follows.E+W+S+N.I.

50In article 93(3), for “and the Bank of England” there is substituted “ , the Bank of England and the Financial Services Authority ”.E+W+S+N.I.

51(1)Article 98 is amended as follows.E+W+S+N.I.

(2)In paragraph (2)(b), for “Bank of England” there is substituted “ Financial Services Authority ”.

(3)For paragraph (6) there is substituted—

(6)Before making regulations under this Article relating to a description of charges defined by reference to their being granted in favour of a person included in the list maintained by the Financial Services Authority for the purposes of section 171 of the M5Companies Act 1989, or in connection with exchange facilities or clearing services provided by a person included in that list, the Department shall consult the Treasury, the Authority and the Bank of England.

(6A)Before making regulations under this Article relating to a description of charges defined by reference to their being granted in favour of the Bank of England, or in connection with settlement arrangements provided by the Bank, the Department shall consult the Treasury and the Bank.

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Marginal Citations

Part IVE+W+S+N.I. General: disclosure of information

Chapter IE+W+S+N.I. Banking Act 1987

F4252. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F4353. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F4454. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F4555. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F4656. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F4757. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F4858. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

F4959. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Chapter IIE+W+S+N.I. Other Enactments

Consumer Credit Act 1974 (c. 39)E+W+S+N.I.

60In section 174(3A) of the Consumer Credit Act 1974—E+W+S+N.I.

(a)for “Bank of England” there is substituted “ Financial Services Authority ”, and

(b)for “Bank” there is substituted “ Authority ”.

Insurance Companies Act 1982 (c. 50)E+W+S+N.I.

F5061. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Companies Act 1985 (c. 6)E+W+S+N.I.

62(1)Section 449 of the Companies Act 1985 is amended as follows.E+W+S+N.I.

(2)In subsection (1), for paragraph (f) there is substituted—

(f)for the purpose of enabling or assisting the Bank of England to discharge its functions,

(fa)for the purpose of enabling or assisting the Financial Services Authority to discharge—

(i)any functions under the M6Financial Services Act 1986, other than as a designated agency within the meaning of that Act,

(ii)its functions under the M7Banking Act 1987, or

(iii)its functions under section 171 of the M8Companies Act 1989,.

(3)In subsection (3), after paragraph (h) there is inserted—

(ha)the Financial Services Authority, other than in its capacity as a designated agency within the meaning of the Financial Services Act 1986,.

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Marginal Citations

Companies (Northern Ireland) Order 1986 (S.I. 1986/1032 (N.I. 6))E+W+S+N.I.

63(1)Article 442 of the Companies (Northern Ireland) Order 1986 is amended as follows.E+W+S+N.I.

(2)In paragraph (1), for sub-paragraph (f) there is substituted—

(f)for the purpose of enabling or assisting the Bank of England to discharge its functions;

(fa)for the purpose of enabling or assisting the Financial Services Authority to discharge—

(i)any functions under the Financial Services Act 1986, other than as a designated agency within the meaning of that Act,

(ii)its functions under the Banking Act 1987, or

(iii)its functions under section 171 of the Companies Act 1989;.

(3)In subsection (3), after paragraph (h) there is inserted—

(ha)the Financial Services Authority, other than in its capacity as a designated agency within the meaning of the Financial Services Act 1986,.

Building Societies Act 1986 (c. 53)E+W+S+N.I.

64(1)The Building Societies Act 1986 is amended as follows.E+W+S+N.I.

(2)In section 53, in subsection (5)—

(a)for “Bank of England”, in the first place where it occurs, there is substituted “ Financial Services Authority ”,

(b)for paragraph (b) there is substituted—

(b)by the Authority of any of its functions under the Banking Act 1987 or as a supervisor of money market institutions;, and

(c)for “Bank of England”, in the second place where it occurs, there is substituted “ Authority ”.

(3)In that section, after subsection (5) there is inserted—

(5A)Nothing in subsection (1) above prohibits the disclosure of information to the Bank of England where, in the opinion of the Commission, it is desirable or expedient that the information should be disclosed with a view to facilitating the discharge—

(a)by the Commission of any of its functions under this Act; or

(b)by the Bank of any of its functions;

nor does subsection (1) above prohibit further disclosure of the information by the Bank of England with the consent of the Commission.

(4)In section 54(3A)—

(a)for “Bank of England”, in the first place where it occurs, there is substituted “ Financial Services Authority, other than in its capacity as a designated agency within the meaning of the M9Financial Services Act 1986, ”, and

(b)for “Bank of England”, in the second place where it occurs, there is substituted “ Financial Services Authority ”.

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Marginal Citations

Financial Services Act 1986 (c. 60)E+W+S+N.I.

F5165. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Companies Act 1989 (c. 40)E+W+S+N.I.

F5266. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Courts and Legal Services Act 1990 (c. 41)E+W+S+N.I.

67In section 50(2) of the Courts and Legal Services Act 1990—E+W+S+N.I.

(a)after paragraph (f) there is inserted—

(fa)the Financial Services Authority to discharge any of its functions under the Financial Services Act 1986 (other than as a designated agency within the meaning of that Act), the Banking Act 1987 or section 171 of the Companies Act 1989;, and

(b)in paragraph (p)(i), for “Bank of England” there is substituted “ Financial Services Authority ”.

Friendly Societies Act 1992 (c. 40)E+W+S+N.I.

F5368. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Amendments (Textual)

Pension Schemes Act 1993 (c. 48)E+W+S+N.I.

69(1)The Pension Schemes Act 1993 is amended as follows.E+W+S+N.I.

(2)In section 149(6)(e), for “Bank of England” there is substituted “ Financial Services Authority ”.

(3)In section 158A(1), in the Table, in the entry relating to the Bank of England, for the words in the second column there is substituted “Any of its functions”, and after that entry there is inserted—

The Financial Services Authority.Functions under the M10Financial Services Act 1986 (other than as a designated agency within the meaning of that Act), the M11Banking Act 1987 or section 171 of the M12Companies Act 1989.
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Marginal Citations

Pension Schemes (Northern Ireland) Act 1993 (c.49)E+W+S+N.I.

70(1)The Pension Schemes (Northern Ireland) Act 1993 is amended as follows.E+W+S+N.I.

(2)In section 145(6)(e), for “Bank of England” there is substituted “ Financial Services Authority ”.

(3)In section 154A(1), in the Table, in the entry relating to the Bank of England, for the words in the second column there is substituted “ Any of its functions ”, and after that entry there is inserted—

The Financial Services Authority.Functions under the Financial Services Act 1986 (other than as a designated agency within the meaning of that Act), the Banking Act 1987 or section 171 of the Companies Act 1989.
Pensions Act 1995 (c. 26)E+W+S+N.I.

71In section 107(1) of the Pensions Act 1995, in the Table, in the entry relating to the Bank of England, for the words in the second column there is substituted “Any of its functions”, and after that entry there is inserted—E+W+S+N.I.

The Financial Services Authority.Functions under the Financial Services Act 1986 (other than as a designated agency within the meaning of that Act), the Banking Act 1987 or section 171 of the Companies Act 1989.
Pensions (Northern Ireland) Order 1995 (S.I. 1995/3213 (N.I. 22))E+W+S+N.I.

72In Article 105(1) of the Pensions (Northern Ireland) Order 1995, in the Table, in the entry relating to the Bank of England, for the words in the second column there is substituted “ Any of its functions ”, and after that entry there is inserted—E+W+S+N.I.

The Financial Services Authority.Functions under the Financial Services Act 1986 (other than as a designated agency within the meaning of that Act), the Banking Act 1987 or section 171 of the Companies Act 1989.

F54SCHEDULE 6E+W+S+N.I.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Amendments (Textual)

F54Sch. 6 repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 162(d)

Section 37.

SCHEDULE 7E+W+S+N.I. Restriction on disclosure of information

Restricted informationE+W+S+N.I.

1(1)Subject to sub-paragraph (2), information is restricted information for the purposes of this paragraph if—E+W+S+N.I.

(a)it is obtained by the Bank by virtue of the power conferred by section 17(1) or paragraph 9 of Schedule 2 (whether or not it was obtained pursuant to a notice under that provision), and

(b)it relates to the business or other affairs of any person.

(2)Information is not restricted information for the purposes of this paragraph if—

(a)it has been made available to the public from other sources, or

(b)it is in the form of a summary or collection of information so framed as not to enable information relating to any particular person to be ascertained from it.

(3)Except as permitted by the following provisions of this Schedule, restricted information shall not be disclosed by—

(a)the Bank or any officer or servant of the Bank, or

(b)any person obtaining the information directly or indirectly from the Bank,

without the consent of the person from whom the Bank obtained the information and, if different, the person to whom the information relates.

(4)Any person who discloses information in contravention of this paragraph shall be guilty of an offence and liable—

(a)on conviction on indictment, to imprisonment for a term not exceeding 2 years, or to a fine, or to both;

(b)on summary conviction, to imprisonment for a term not exceeding 3 months, or to a fine not exceeding the statutory maximum, or to both.

Disclosure for the purposes of the Bank’s functionsE+W+S+N.I.

2(1)Paragraph 1 does not preclude the disclosure of information in any case in which disclosure is for the purpose of enabling or assisting the Bank to discharge—E+W+S+N.I.

(a)its functions as a monetary authority,

(b)its functions as a supervisor of systems for the transfer of funds between credit institutions and their customers, or

(c)its functions under Schedule 2.

[F55(2)“Credit institution” means an undertaking whose business is to receive deposits or other repayable funds from the public and to grant credits for its own account.]

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Amendments (Textual)

F55Sch. 7 para. 2(2) substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 164(2)

Disclosure by the Bank to other authoritiesE+W+S+N.I.

3(1)Paragraph 1 does not preclude the disclosure by the Bank of information to any authority specified in the first column of the following Table if the Bank considers that the disclosure would enable or assist that authority to discharge any of the functions specified in relation to it in the second column of that Table.E+W+S+N.I.

[F56 Table

AuthorityFunctions
The Treasury.Functions under the Financial Services and Markets Act 2000.
The Secretary of State.Functions under the Financial Services and Markets Act 2000.
An inspector appointed under Part 14 of the Companies Act 1985 or Part 15 of the Companies (Northern Ireland) Order 1986.Functions under that Part.
A person authorised to exercise powers under section 447 of the Companies Act 1985, Article 440 of the Companies (Northern Ireland) Order 1986 or section 84 of the Companies Act 1989.Functions under that section or Article.

A person appointed under—

(a)section 167 of the Financial Services and Markets Act 2000,

(b)subsection (3) or (5) of section 168 of that Act, or

(c)section 284 of that Act,

to conduct an investigation.

Functions in relation to that investigation.

The Financial Services Authority.Functions under the legislation relating to friendly societies, the Building Societies Act 1986, Part 7 of the Companies Act 1989 or the Financial Services and Markets Act 2000.
The competent authority for the purposes of Part 6 of the Financial Services and Markets Act 2000.Functions under that Part.
The Office for National Statistics.Functions under the Statistics of Trade Act 1947.
The Occupational Pensions Regulatory Authority.Functions under the Pension Schemes Act 1993 or the Pensions Act 1995 or any enactment in force in Northern Ireland corresponding to either of them.]
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Amendments (Textual)

F56Table in Sch. 7 para. 3 substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 164(3)

(2)The Treasury may by order amend the Table in sub-paragraph (1) by—

(a)adding any public or other authority and specifying functions in relation to it,

(b)removing any authority for the time being specified in the Table, or

(c)altering the functions for the time being specified in the Table in relation to any authority.

(3)The Treasury may by order restrict the circumstances in which, or impose conditions subject to which, disclosure is permitted in the case of any authority for the time being specified in the Table.

(4)Before making an order under this paragraph, the Treasury shall consult the Bank.

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Amendments (Textual)

F56Table in Sch. 7 para. 3 substituted (1.12.2001) by S.I. 2001/3649, arts. 1, 164(3)

Modifications etc. (not altering text)

C1Sch. 7 para. 3 amended (temp. from 3.9.2001 until 1.12.2001) by S.I. 2001/2966, arts. 3, 12; S.I. 2001/3538, art. 2(1)

Onward disclosureE+W+S+N.I.

4(1)Paragraph 1 does not preclude the disclosure by any authority specified in the first column of the Table in paragraph 3(1) of information obtained by it by virtue of that provision if it makes the disclosure—E+W+S+N.I.

(a)with the consent of the Bank, and

(b)for the purpose of enabling or assisting it to discharge any functions specified in relation to it in the second column of that Table.

(2)Before deciding whether to give its consent to disclosure under this paragraph, the Bank shall take account of such representations as the authority proposing to make the disclosure may make about the desirability of or necessity for the disclosure.

Other permitted disclosuresE+W+S+N.I.

5Paragraph 1 does not preclude the disclosure of information—E+W+S+N.I.

(a)with a view to the institution of, or otherwise for the purposes of, any proceedings in connection with a payment due under Schedule 2 (payment in lieu of cash ratio deposit),

(b)with a view to the institution of, or otherwise for the purposes of, any criminal proceedings, whether under this Act or otherwise, or

(c)in pursuance of any Community obligation.

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Modifications etc. (not altering text)

C2Sch. 7 para. 5: disclosure powers extended (14.12.2001) by 2001 c. 24, ss. 17, 127(2)(a), Sch. 4 Pt. I para. 40(1)

Section 42.

SCHEDULE 8E+W+S+N.I. Transitional provisions and savings

Bank’s immunity from suitE+W+S+N.I.

F571. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

Disclosure of informationE+W+S+N.I.

F582. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

Annotations: Help about Annotation
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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

F593. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

Annotations: Help about Annotation
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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

F604. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

Annotations: Help about Annotation
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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

F615. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

Annotations: Help about Annotation
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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

Pre-commencement consultationE+W+S+N.I.

6If, before the day on which this Act comes into force, anything is done which, had it been done after that day, would to any extent have satisfied—E+W+S+N.I.

(a)any requirement to consult before making an order under this Act, or

(b)any requirement of paragraph 2(1) of Schedule 6,

that requirement shall to that extent be taken to have been satisfied.

Membership of the Deposit Protection BoardE+W+S+N.I.

F627. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .E+W+S+N.I.

Annotations: Help about Annotation
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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

Section 43.

SCHEDULE 9E+W+S+N.I. Repeals and revocations

Part IE+W+S+N.I. Repeals

ChapterShort titleExtent of repeal
1946 c. 27.The Bank of England Act 1946.Sections 2 and 4(2).
Schedule 2.
F63. . .F63. . .F63. . .
In Schedule 7, in paragraph 1(2), the words “and the Governor of the Bank of England acting jointly”.
F64. . .F64. . .F64. . .
1990 c. 41.The Courts and Legal Services Act 1990.In sections 37(8)(a), 48(4)(a) and 52(6), the words “by the Bank of England”.
In section 54(1), in the inserted subsection (2)(e)(i), the words “by the Bank of England,”.
Annotations: Help about Annotation
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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

F63Entry in Sch. 9 Pt. I repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 162(j)(i)

F64Entry in Sch. 9 Pt. I repealed (1.12.2001) by S.I. 2001/3649, arts. 1, 162(j)(i)

F65Part IIE+W+S+N.I.

Annotations: Help about Annotation
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Annotations are used to give authority for changes and other effects on the legislation you are viewing and to convey editorial information. They appear at the foot of the relevant provision or under the associated heading. Annotations are categorised by annotation type, such as F-notes for textual amendments and I-notes for commencement information (a full list can be found in the Editorial Practice Guide). Each annotation is identified by a sequential reference number. For F-notes, M-notes and X-notes, the number also appears in bold superscript at the relevant location in the text. All annotations contain links to the affecting legislation.

Amendments (Textual)

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