(1)In the discharge of any of its functions, the Oversight Committee may arrange—
(a)for a review to be conducted under this section in relation to any matter by a person appointed by the Committee, and
(b)for the person conducting the review to make one or more reports to the Committee.
(2)The persons who may be appointed to conduct a review include an officer or employee of the Bank.
(3)A review under this section is a “performance review” if it—
(a)is arranged by the Committee in the discharge of any of its functions under section 3A(2)(a) and (b), and
(b)relates to past events.
(4)If the person to be appointed to conduct a performance review is an officer or employee of the Bank, the appointment requires the consent of the Governor of the Bank.
(5)In the case of a performance review, the Committee must have regard to the desirability of ensuring that sufficient time has elapsed—
(a)for the review to be effective, and
(b)to avoid the review having a material adverse effect on the exercise by the Bank of its functions.]
Textual Amendments
F1 Ss. 3A-3F substituted for s. 3 (1.4.2013) by Financial Services Act 2012 (c. 21) , ss. 3(2) , 122(3) (with Sch. 20 ); S.I. 2013/423 , art. 3 ,