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Paragraph 16 F1

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

(1)

The Committee may take a decision on a matter without a meeting if—

(a)

a majority of eligible members indicate in writing their agreement to the decision,

(b)

the eligible members who indicate in writing their agreement to the decision would have constituted a quorum at a meeting of the Committee, and

(c)

any other requirements determined by the Committee are met.

(2)

“Eligible members” are members of the Committee who would have been entitled to vote on the matter if the matter had been proposed for decision at a meeting of the Committee.

Annotations

Textual amendments

F1

Sch. 6A inserted (1.3.2017) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 1 (with Sch. 3); S.I. 2017/43, reg. 2(d)