Part 6Banknotes: Scotland and Northern Ireland
Bank of England
I1226Discretionary functions
1
Banknote regulations may confer a discretionary function on the Bank of England.
2
In particular, banknote regulations—
a
may require compliance with conditions to be imposed (whether generally or only for specified cases or circumstances) by the Bank of England, and
b
may make a permission or option subject to the approval of the Bank of England (which may be general or only for specified cases or circumstances).
3
Subsection (2) is in addition to express references in this Part to Bank of England approval.