Paragraph 11

United Kingdom

F1(1)

The court may delegate such duties and powers as it thinks fit to—

(a)

a member of the court,

(b)

any officer, F2employee or agent of the Bank,

(c)

a sub-committee consisting of—

(i)

members of the court, or

(ii)

one or more members of the court and one or more of the officers, F3employees and agents of the Bank.

F4(d)

a committee consisting of officers, employees or agents of the Bank.

F5(2)

The duties and powers that may be delegated under this paragraph do not include duties and powers that are by any enactment expressly imposed or conferred on the court of directors.

F6(a)

include duties and powers conferred on the court of directors by section 9A (financial stability strategy), but

(b)

except as mentioned in paragraph (a),

F7(3)

The court of directors retains responsibility for a duty or power which it delegates under this paragraph.

Annotations

Textual amendments

F1: Sch. 1 para. 11(1): Sch. 1 para. 11 renumbered as Sch. 1 para. 11(1) (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(10)(a) (with Sch. 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch.
F2: Word in Sch. 1 para. 11(1)(b) 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(10)(b) (with Sch. 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch.
F3: Word in Sch. 1 para. 11(1)(c)(ii) 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(10)(c) (with Sch. 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch.
F4: Sch. 1 para. 11(1)(d) inserted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 19(3) (with Sch. 3); S.I. 2017/43, reg. 2(g)
F5: Sch. 1 para. 11(2) 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. 1(10)(d) (with Sch. 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch.
F6: Sch. 1 para. 11(2)(a)(b), inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 5(2), 41(3) (with Sch. 3); S.I. 2016/627, reg. 2(1)(f)
F7: Sch. 1 para. 11(3) inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 5(3), 41(3) (with Sch. 3); S.I. 2016/627, reg. 2(1)(f)