12.—(1) The person responsible may grant pre-release access to a Bank eligible person if, in the opinion of the person responsible, such access is needed for the effective discharge by the Bank of England (“the Bank”) of its functions.
(2) For the purposes of this paragraph “Bank eligible person” means—
(a)the Governor of the Bank;
(b)a Deputy Governor of the Bank;
(c)a member of the Monetary Policy Committee; or
(d)an officer, servant or agent of the Bank.
(3) The person responsible may, for any of the purposes set out in sub-paragraph (5), grant pre-release access to a Treasury eligible person to any statistics to which access has been granted to a Bank eligible person under sub-paragraph (1).
(4) For the purposes of this paragraph “Treasury eligible person” means—
(a)a person designated by the Treasury to attend, as a representative of the Treasury, a meeting of the Monetary Policy Committee pursuant to paragraph 13 of Schedule 3 to the Bank of England Act 1998(1);
(b)the Chancellor of the Exchequer; or
(c)a person who needs pre-release access in order to advise a person referred to in paragraph (a) or (b).
(5) The purposes referred to in sub-paragraph (3) are—
(a)the effective co-ordination of fiscal and monetary policy;
(b)the preparation of any communication from the Treasury to the Bank in relation to a notice given by the Treasury to the Bank under section 12 of the Bank of England Act 1998.
(6) The number of persons to whom pre-release access is granted under this paragraph must be kept to the minimum necessary for achieving the purpose for which such access is granted.
(7) Such access must be kept to the minimum time prior to publication necessary to achieve the purpose for which such access is granted.
(8) Such pre-release access may be granted subject to such conditions as the person responsible sees fit.
(9) The person responsible must not grant pre-release access under this paragraph unless, in the opinion of the person responsible, the public benefit likely to result from such access outweighs the detriment to public trust in official statistics likely to result from such access.
(10) For the purposes of this paragraph, paragraphs 6, 7 and 8 apply to a Bank eligible person and a Treasury eligible person as they apply to an eligible person.
(11) The person responsible may, when deciding whether to grant pre-release access to a Bank eligible person or a Treasury eligible person, take into account any failure by that person, in relation to a previous grant of pre-release access, to comply with paragraph 6, paragraph 7 or any conditions imposed by the person responsible.
(12) Nothing in paragraphs 6, 7 and 8 prevent a Bank eligible person or a Treasury eligible person who receives pre-release access sharing such access to the official statistic with a person providing administrative support (of a type not within paragraph 12(4)(c)) to that Bank eligible person or Treasury eligible person.
(13) A person providing administrative support under sub-paragraph (12) is an eligible person only for the purposes of paragraphs 6 and 7.
(14) Paragraphs 3, 4, 5 and 11 do not apply to the granting of pre-release access under this paragraph.