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Paragraph 14

United Kingdom

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

F1(A1)

The remuneration of the Governor and Deputy Governors of the Bank is to be determined by a sub-committee of the court of directors consisting of 3 or more non-executive directors of the Bank.

(1)

A person appointed as Governor or Deputy Governor of the Bank shall be entitled to be paid by the Bank such remuneration as F2that sub-committee may determine.

(2)

The Bank may pay, or create and maintain a fund for the payment of, pensions or capital grants to members, or former members, of the court who have rendered exclusive services to the Bank.

Annotations

Textual amendments

F1

Sch. 1 para. 14(A1) inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 4(2)(a), 41(3) (with Sch. 3); S.I. 2016/627, reg. 2(1)(e)

F2

Words in Sch. 1 para. 14(1) substituted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 4(2)(b), 41(3) (with Sch. 3); S.I. 2016/627, reg. 2(1)(e)