Regulation 2 InterpretationI1
United Kingdom
In these Regulations—
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“Bank of England rate” means the official bank rate as announced at the relevant meeting;
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“operative date” means the 13th working day following the relevant meeting;
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“relevant meeting” means the most recent meeting of the Bank of England Monetary Policy Committeef1;
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“working day” means any day other than a non-business day within the meaning of section 92 of the Bills of Exchange Act 1882f2.
Annotations
Commencement
- I1
Reg. 2 in force at 31.10.2011, see reg. 1
Footnotes
- f1
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The Monetary Policy Committee was constituted on a statutory basis by section 13 of the Bank of England Act 1998 (c. 11).
- f2
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1882 c. 61; section 92 was amended by sections 3(1) and (3) and 4(4) of the Banking and Financial Dealings Act 1971 (c. 80).