Paragraph 10 RegulationsF1

(1)

Before making regulations under this Schedule the Treasury must consult—

(a)

the Bank, and

(b)

such other persons who appear to the Treasury to be representative of persons who are likely to be affected by the regulations.

(2)

When making regulations under this Schedule the Treasury must have regard to the financial needs of the Bank.

(3)

Regulations under this Schedule are to be made by statutory instrument.

(4)

Regulations under this Schedule may—

(a)

make different provision for different purposes;

(b)

make incidental, supplemental, consequential, saving or transitional provision.

(5)

A statutory instrument containing (whether alone or with other provision) regulations under paragraphs 2(4) or 5(1) may not be made unless a draft of the instrument has been laid before, and approved by a resolution of, each House of Parliament.

(6)

A statutory instrument containing only regulations under paragraph 8(5) is subject to annulment in pursuance of a resolution of either House of Parliament.

Annotations

Textual amendments

F1: Sch. 2ZA inserted (1.1.2024 for specified purposes, 1.3.2024 in so far as not already in force) by Financial Services and Markets Act 2023 (c. 29), ss. 70(4), 86(3); S.I. 2023/1382, reg. 9(1)(c); S.I. 2024/250, reg. 2(b)