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SCHEDULES

SCHEDULE 1U.K. Court of directors

ProceedingsU.K.

13(1)At a meeting of the court, the proceedings shall be regulated as follows.U.K.

(2)The quorum shall be 9.

(3)The chair shall be taken by the Governor of the Bank or, if he is not present, by the director of the Bank who is for the time being designated under subsection (4) of section 3 to chair the sub-committee constituted by that section.

(4)If a member of the court has any direct or indirect interest in any dealing or business with the Bank—

(a)he shall disclose his interest to the court at the time of the dealing or business being negotiated or transacted, and

(b)he shall have no vote in relation to the dealing or business, unless the court has resolved that the interest does not give rise to a conflict of interest.

(5)A member of the court shall have no vote in relation to any question arising which touches or concerns him but shall withdraw and be absent during the debate of any matter in which he is concerned.

(6)Subject to sub-paragraphs (2) to (5), the court shall determine its own procedure.