Banking Act 2009

191 Directions

(1) The Bank of England may give directions to the operator of a recognised inter-bank payment system.

(2) A direction may—

(a) require or prohibit the taking of specified action in the operation of the system;

(b) set standards to be met in the operation of the system.

(3) Before giving a direction the Bank must notify the Treasury.

(4) The Treasury may by order confer immunity from liability in damages in respect of action or inaction in accordance with a direction.

(5) An immunity does not extend to action or inaction—

(a) in bad faith, or

(b) in contravention of section 6(1) of the Human Rights Act 1998.

(6) An order—

(a) shall be made by statutory instrument, and

(b) shall be subject to annulment in pursuance of a resolution of either House of Parliament.