Bank of England Act 1998 (c. 11)

[F1 PART 3A U.K. Prudential regulation

Textual Amendments

F1 Pt. 3A inserted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), ss. 13(2), 41(3) (with Sch. 3); S.I. 2017/43, reg. 2(d)

30C Operational independence U.K.

[F2 (1) The Bank must make arrangements to ensure that the discharge of its resolution functions (as defined by section 7D(10)) is operationally independent of the discharge of its functions as the PRA.]

(2) The Bank must prepare and issue a statement of its arrangements under subsection (1).

(3) If there are material changes to the arrangements, it must prepare and issue a revised statement.

(4) The Bank must consult the Treasury before issuing a statement under subsection (2) or a revised statement under subsection (3).

F3 (5) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3 (6) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

F3 (7) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .]

Textual Amendments

F2 S. 30C(1) substituted (31.12.2020) by The Bank of England (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1297), regs. 1(2), 5(a); 2020 c. 1, Sch. 5 para. 1(1)

F3 S. 30C(5)-(7) omitted (31.12.2020) by virtue of The Bank of England (Amendment) (EU Exit) Regulations 2018 (S.I. 2018/1297), regs. 1(2), 5(b); 2020 c. 1, Sch. 5 para. 1(1)