SCHEDULES

SCHEDULE 2Amendments relating to Part 1

PART 1Bank 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).