{
  "url": "https://openlegislation.uk/bank-of-england-act-1998/section-16",
  "json_url": "https://openlegislation.uk/bank-of-england-act-1998/section-16.json",
  "legislation": "ukpga/1998/11",
  "legislation_title": "Bank of England Act 1998",
  "legislation_url": "https://openlegislation.uk/bank-of-england-act-1998",
  "path": "section/16",
  "kind": "section",
  "number": "16",
  "heading": "Functions of court of directors .",
  "text": "(1) The court of directors of the Bank shall keep the procedures followed by the Monetary Policy Committee under review.\n(2) In particular, the court's function under subsection (1) shall include determining whether the Monetary Policy Committee has collected the regional, sectoral and other information necessary for the purposes of formulating monetary policy.\n(3) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .",
  "extent": "E+W+S+N.I.",
  "status": null,
  "version": "current",
  "annotations": [
    {
      "type": "F",
      "label": "F1",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F2",
      "text": "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)"
    },
    {
      "type": "F",
      "label": "F3",
      "text": "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."
    },
    {
      "type": "F",
      "label": "F4",
      "text": "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."
    },
    {
      "type": "F",
      "label": "F5",
      "text": "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)"
    }
  ],
  "outstanding_effects": [],
  "provenance": {
    "source": "legislation.gov.uk",
    "source_url": "https://www.legislation.gov.uk/ukpga/1998/11/section/16",
    "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."
}