Bank of England Act 1998

Qualification for appointment U.K.

5 U.K. A person is disqualified for appointment under section 13(2)(b) or (c) if—

(a) he is a Minister of the Crown, or a person serving in a government department in employment in respect of which remuneration is payable out of money provided by Parliament, or

(b) he is a member of the court of directors of the Bank.

[F1 [F2 5A U.K. The following persons are disqualified for appointment under section 13(2)(c)—

(a) a member of the Financial Policy Committee of the Bank appointed under section 9B(1)(e);

(b) a member of the Prudential Regulation Committee of the Bank appointed under section 30A(2)(g).]]

Textual Amendments

F1 Sch. 3 para. 5A inserted (19.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 2 para. 2(7) (with Sch. 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch.

F2 Sch. 3 para. 5A substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 21(3) (with Sch. 3); S.I. 2017/43, reg. 2(g)

6 U.K. The fact that a person has held office under section 13(2)(b) or (c) does not disqualify him for further appointment to such office [F3 (subject to paragraph 2A)].

Textual Amendments

F3 Words in Sch. 3 para. 6 inserted (1.6.2009) by Banking Act 2009 (c. 1), ss. 243(4), 263(1) (with s. 247); S.I. 2009/1296, art. 2, Sch. para. 6