F1PART 5AWholesale cash distribution
Introduction
206DPolicy statement
(1)
The Bank of England—
(a)
must prepare a statement of its policy with respect to the exercise of its powers under this Part,
(b)
must from time to time review the statement, and
(c)
may prepare a revised statement.
(2)
When preparing a statement under this section, the Bank must consult such persons as appear to the Bank to be representative of persons likely to be affected by the statement.
(3)
After preparing a statement under this section the Bank must—
(a)
provide the statement to the Treasury, and
(b)
publish the statement.
(4)
The Treasury must lay a copy of each statement received under this section before Parliament.
(5)
No power conferred on the Bank by this Part may be exercised before a statement under this section has been published.