Section 16 Functions of court of directors .F5

United Kingdom

(1)

The F1court of directors of the Bank shall keep the procedures followed by the Monetary Policy Committee under review.

(2)

In particular, F2the court's function under subsection (1) shall include determining whether F3the Monetary Policy Committee has collected the regional, sectoral and other information necessary for the purposes of formulating monetary policy.

F4(3)

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Annotations

Textual amendments

F1: Words in s. 16(1) substituted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 16(2) (with Sch. 3); S.I. 2016/627, reg. 2(2)(f)
F2: Words in s. 16(2) substituted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 16(3) (with Sch. 3); S.I. 2016/627, reg. 2(2)(f)
F3: Words in s. 16(2) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 3(4)(b)(ii), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F4: S. 16(3) omitted (1.4.2013) by virtue of Financial Services Act 2012 (c. 21), ss. 3(4)(c), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F5: Words in s. 16 heading substituted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 16(4) (with Sch. 3); S.I. 2016/627, reg. 2(2)(f)