1(1)Appointment as Governor or Deputy Governor of the Bank shall be for a period of 5 years.U.K.
(2)A person appointed as Governor or Deputy Governor of the Bank shall work exclusively for the Bank.
[F1(3)A person may not be appointed as Governor more than twice.
(4)A person may not be appointed as Deputy Governor more than twice.]
Textual Amendments
F1Sch. 1 para. 1(3)(4) added (1.6.2009) by Banking Act 2009 (c. 1), ss. 243(1), 263(1) (with s. 247); S.I. 2009/1296, art. 2, Sch. para. 6
2U.K.Appointment as director of the Bank shall be for a period of 3 years, except that initially some appointments may be for shorter and different periods so as to secure that appointments expire at different times.
3U.K.A person appointed as director of the Bank in place of a person who ceased to hold office before the end of the term for which he was appointed shall be appointed for the remainder of that person’s term of office.
4U.K.A person appointed as Governor, Deputy Governor or director of the Bank may resign his office by written notice to the Bank.