Section 3E Recommendations resulting from reviewF1

United Kingdom

(1)

This section applies where a report made by a person appointed under section 3C to conduct a review makes recommendations to the Bank as to steps to be taken by it.

(2)

The F2court of directors must—

(a)

monitor the Bank's response to the report, and

(b)

if or to the extent that the Bank accepts the recommendations, monitor the implementation of the recommendations.

Annotations

Textual amendments

F1: Ss. 3A-3F substituted for s. 3 (1.4.2013) by Financial Services Act 2012 (c. 21) , ss. 3(2) , 122(3) (with Sch. 20 ); S.I. 2013/423 , art. 3 ,
F2: Words in s. 3E(2) substituted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14) , s. 41(3) , Sch. 2 para. 7 (with Sch. 3 ); S.I. 2016/627 , reg. 2(2)(b)