SCHEDULES

SCHEDULE 3 Monetary Policy Committee

Removal of appointed members

7

A person appointed under section 13(2)(b) or (c) shall vacate office if he becomes a person to whom paragraph 5(a) or (b) applies.

8

A person appointed under section 13(2)(b) shall vacate office if he ceases to have executive responsibility within the Bank for monetary policy analysis or, as the case may be, monetary policy operations.

9

1

The F2Oversight Committee may, with the consent of the Chancellor of the Exchequer, remove a member appointed under section 13(2)(b) or (c) if it is satisfied—

a

that he has been absent from the F3meetings of the Monetary Policy Committee for more than 3 months without F3that Committee's consent,

b

that he has become bankrupt F1, that a debt relief order (under Part 7A of the Insolvency Act 1986) has been made in respect of him, that his estate has been sequestrated or that he has made an arrangement with or granted a trust deed for his creditors, or

c

that he is unable or unfit to discharge his functions as a member.

F42

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