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Paragraph 1 F1

United Kingdom

Changes not yet applied. Later legislation changes this provision in ways not yet written into the text below:

(1)

Appointment as Governor of the Bank shall be for a period of 8 years.

(2)

Appointment as Deputy Governor of the Bank shall be for a period of 5 years.

(3)

A person may not be appointed—

(a)

as Governor, more than once, or

(b)

as Deputy Governor, more than twice.

(4)

A person appointed as Governor or Deputy Governor of the Bank shall work exclusively for the Bank; and for this purpose work in an office that an enactment requires to be held by the Governor or a Deputy Governor is to be taken to be work for the Bank.

Annotations

Textual amendments

F1

Sch. 1 para. 1 substituted (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. 1(2) (with Sch. 2 paras. 1(15), 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch.