Part II Monetary Policy
Role of the Bank
12 Specification of matters relevant to objectives.
1
The Treasury may by notice in writing to the Bank specify for the purposes of section 11—
a
what price stability is to be taken to consist of, or
b
what the economic policy of Her Majesty’s Government is to be taken to be.
2
The Treasury shall specify under subsection (1) both of the matters mentioned there—
a
before the end of the period of 7 days beginning with the day on which this Act comes into force, and
b
at least once in every period of 12 months beginning on the anniversary of the day on which this Act comes into force.
3
Where the Treasury give notice under this section they shall—
a
publish the notice in such manner as they think fit, and
b
lay a copy of it before Parliament.