{
  "url": "https://openlegislation.uk/bank-of-england-act-1998/schedule-2A/paragraph-3",
  "json_url": "https://openlegislation.uk/bank-of-england-act-1998/schedule-2A/paragraph-3.json",
  "legislation": "ukpga/1998/11",
  "legislation_title": "Bank of England Act 1998",
  "legislation_url": "https://openlegislation.uk/bank-of-england-act-1998",
  "path": "schedule/2A/paragraph/3",
  "kind": "paragraph",
  "number": "3",
  "heading": null,
  "text": "(1) If it appears to the Chancellor of the Exchequer that in the circumstances it is desirable to do so, the Chancellor may, before the end of the term for which a person is appointed as a member of the Committee under section 9B(1)(e), extend the persons's term of office on one occasion for a specified period of not more than 6 months.\n(2) The term being extended may be the person's first or second term or, in a case where paragraph 2(2) allows a third term, the person's third term.\n(3) If a person whose first term of office is extended is subsequently re-appointed under section 9B(1)(e)—\n(a) the length of the second term is to be reduced by a period equal to the extension of the first term, but\n(b) the second term may itself subsequently be extended under sub-paragraph (1).\n(4) In a case where a person's second term of office is extended and paragraph 2(2) allows a third term, sub-paragraph (3) is to be read as if the references to first and second terms were references to second and third terms respectively.",
  "extent": null,
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "Sch. 2A 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. 1 Pt. 1 (with Sch. 20 ); S.I. 2013/113 , art. 2(2) , Sch. Pt. 4 ; S.I. 2013/423 , art. 3 , Sch."
    }
  ],
  "outstanding_effects": [
    {
      "type": "substituted",
      "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/2A/paragraph/3",
    "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."
}