14[F1(A1)The remuneration of the Governor and Deputy Governors of the Bank is to be determined by a sub-committee of the court of directors consisting of 3 or more non-executive directors of the Bank.]U.K.
(1)A person appointed as Governor or Deputy Governor of the Bank shall be entitled to be paid by the Bank such remuneration as [F2that sub-committee ] may determine.
(2)The Bank may pay, or create and maintain a fund for the payment of, pensions or capital grants to members, or former members, of the court who have rendered exclusive services to the Bank.
Textual Amendments
F1Sch. 1 para. 14(A1) inserted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 4(2)(a), 41(3) (with Sch. 3); S.I. 2016/627, reg. 2(1)(e)
F2Words in Sch. 1 para. 14(1) substituted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), ss. 4(2)(b), 41(3) (with Sch. 3); S.I. 2016/627, reg. 2(1)(e)