Section 206D Policy statementF1

(1)

The Bank of England—

(a)

must prepare a statement of its policy with respect to the exercise of its powers under this Part,

(b)

must from time to time review the statement, and

(c)

may prepare a revised statement.

(2)

When preparing a statement under this section, the Bank must consult such persons as appear to the Bank to be representative of persons likely to be affected by the statement.

(3)

After preparing a statement under this section the Bank must—

(a)

provide the statement to the Treasury, and

(b)

publish the statement.

(4)

The Treasury must lay a copy of each statement received under this section before Parliament.

(5)

No power conferred on the Bank by this Part may be exercised before a statement under this section has been published.

Annotations

Textual amendments

F1: Pt. 5A inserted (29.8.2023) by Financial Services and Markets Act 2023 (c. 29), s. 86(2)(d), Sch. 9 para. 1