F1PART 1AFinancial Stability
Publication of record of meetings
9UPublication of record of meetings
1
The Bank must publish a record of each meeting of the Financial Policy Committee before the end of the period of 6 weeks beginning with the day of the meeting.
2
The record must specify any decisions taken at the meeting (including decisions to take no action) and must set out, in relation to each decision, a summary of the Committee's deliberations.
3
The decisions referred to in subsection (2) include in particular a decision—
a
to give or revoke a direction under section 9H;
b
to make recommendations under any of sections 9O to 9R.
d
made under the Capital Requirements (Capital Buffers and Macro-prudential Measures) Regulations 2014.
4
Where a decision has been made to give or revoke a direction under section 9H, the record must include the text of the direction or of the notice of revocation.
5
Where a decision has been made to make recommendations under any of sections 9O to 9R, the record must include the recommendations.
6
Where since the previous meeting the Committee has received a notification under section 9Q(3)(b), the record must include the notification.
7
The information required by subsections (1) and (2) does not include information identifying particular members of the Committee.
8
Subsections (1) to (6) do not require the publication of—
a
information about any recommendations made under 9O(2)(a);
b
information whose publication within the time required by subsection (1) would in the opinion of the Committee be against the public interest;
c
information about any decision under paragraph (b);
d
information about a decision to give a direction under section 9H which has been revoked before the record of the meeting at which it was given is published;
e
information about the decision to revoke a direction where information about the direction is withheld under paragraph (d).
F4f
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F4g
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9
Publication under this section or section 9V is to be in such manner as the Bank thinks fit.
9VDeferred publication
1
Where the Financial Policy Committee decides under subsection (8)(b) of section 9U that publication of information within the time required by subsection (1) of that section would be against the public interest—
a
it must consider whether to fix a date as the earliest date on which the information may be published, and
b
if it does not fix a date, it must keep under consideration the question whether publication of the information would still be against the public interest.
2
The Committee must from time to time determine the procedures that it will follow in complying with the duty in subsection (1)(b).
3
Where the Committee—
a
fixes a date under subsection (1)(a) as the earliest date on which any information may be published, or
b
decides under subsection (1)(b) that publication of any information is no longer against the public interest,
the Bank must publish the information at the time when it next publishes under section 9U(1) the record of a meeting of the Committee.
Pt. 1A inserted (24.1.2013 for the insertion of ss. 9I(2), 9L, 9N for specified purposes and for the insertion of s. 9ZA, 19.2.2013 for the insertion of s. 9B for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), ss. 4(1), 122(3) (with Sch. 20); S.I. 2013/113, art. 2(1)(b)(c)(2), Sch. Pts. 2, 3, 4; S.I. 2013/423, art. 3, Sch.