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Paragraph 2 C1

United Kingdom

(1)

The agency’s arrangements for the discharge of its functions must comply with the following provisions of this paragraph.

(2)

Any F1statements of principle, rules, regulations and codes of practice must be issued or made by the governing body of the agency.

(3)

Any decision taken in the exercise of other functions must be taken at a level appropriate to the importance of the decision.

(4)

In the case of functions to be discharged by the governing body, the members falling respectively within paragraphs (a) and (b) of paragraph 1(3) above must, so far as practicable, have an opportunity to express their opinions.

(5)

Subject to sub-paragraphs (2) to (4) above, the arrangements may enable any functions to be discharged by a committee, sub-committee, officer or servant of the agency.

Annotations

Textual amendments

F1

Words substituted by Companies Act 1989 (c. 40, SIF 27), s. 206(1), Sch. 23 para. 22

Modifications

C1

Sch. 7 para. 2 excluded (18.6.2001) by S.I. 2001/1821, art. 2(1)(a)

Notes on the whole Act

Textual amendments

F1

Act repealed (1.12.2001) by The Financial Services and Markets Act 2000 (Consequential Amendments and Repeals) Order 2001 (S.I. 2001/3649), arts. 1, 3(1)(c) (with savings in art. 292)