{
  "url": "https://openlegislation.uk/bank-of-england-act-1998/schedule-1/paragraph-8",
  "json_url": "https://openlegislation.uk/bank-of-england-act-1998/schedule-1/paragraph-8.json",
  "legislation": "ukpga/1998/11",
  "legislation_title": "Bank of England Act 1998",
  "legislation_url": "https://openlegislation.uk/bank-of-england-act-1998",
  "path": "schedule/1/paragraph/8",
  "kind": "paragraph",
  "number": "8",
  "heading": null,
  "text": "(1) The Bank may, with the consent of the Chancellor of the Exchequer, remove a person from office as Governor, Deputy Governor or non-executive director of the Bank if it is satisfied—\n(a) that he has been absent from meetings of the court for more than 3 months without the consent of the court,\n(b) that he has become bankrupt , 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\n(c) that he is unable or unfit to discharge his functions as a member.\n(2) In relation to the Deputy Governor for prudential regulation, the reference in sub-paragraph (1)(c) to inability or unfitness to discharge functions as member of the court of directors is to be read as including a reference to inability or unfitness to discharge functions as chief executive for prudential regulation (see Schedule 6A) .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 1 para. 8(1): Sch. 1 para. 8 renumbered as Sch. 1 para. 8(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(9)(a) (with Sch. 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F2",
      "text": "Words in Sch. 1 para. 8(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(9)(b) (with Sch. 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F3",
      "text": "Words in Sch. 1 para. 8(1)(b) inserted (1.10.2012) by The Tribunals, Courts and Enforcement Act 2007 (Consequential Amendments) Order 2012 (S.I. 2012/2404), art. 1, Sch. 2 para. 38(2) (with art. 5)"
    },
    {
      "type": "F",
      "label": "F4",
      "text": "Sch. 1 para. 8(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(9)(c) (with Sch. 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch."
    },
    {
      "type": "F",
      "label": "F5",
      "text": "Words in Sch. 1 para. 8(2) substituted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 19(2) (with Sch. 3); S.I. 2017/43, reg. 2(g)"
    }
  ],
  "outstanding_effects": [
    {
      "type": "words substituted",
      "affecting": "ukpga/2016/14",
      "affecting_title": "Bank of England and Financial Services Act 2016"
    },
    {
      "type": "inserted",
      "affecting": "ukpga/2016/14",
      "affecting_title": "Bank of England and Financial Services Act 2016"
    }
  ],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1998/11/schedule/1/paragraph/8",
    "retrieved_at": "2026-10-29T09:23:10.863404+00:00"
  },
  "licence": "Open Government Licence v3.0",
  "licence_url": "https://www.nationalarchives.gov.uk/doc/open-government-licence/version/3/",
  "attribution": "Contains public sector information licensed under the Open Government Licence v3.0. Source: legislation.gov.uk, The National Archives."
}