SCHEDULES

SCHEDULE 3U.K. Monetary Policy Committee

ProceedingsU.K.

11(1)At a meeting of the Committee, the proceedings shall be regulated as follows.U.K.

(2)The quorum shall be 6, of whom 2 must hold office as Governor or Deputy Governor of the Bank.

(3)The chair shall be taken by the Governor of the Bank or, if he is not present, the Deputy Governor of the Bank F1... for monetary policy.

(4)Decisions shall be taken by a vote of all those members present at the meeting.

(5)In the event of a tie, the chairman shall have a second casting vote.

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

Textual Amendments

F1Words in Sch. 3 para. 11(3) repealed (19.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 2 para. 2(9) (with Sch. 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch.

12U.K.The Committee may, in relation to sub-paragraph (2), (3) or (4) of paragraph 11, determine circumstances in which a member who is not present at, but is in communication with, a meeting, is to be treated for the purposes of that sub-paragraph as present at it.

13U.K.A representative of the Treasury may attend, and speak at, any meeting of the Committee.

[F213AU.K.The Committee may invite other persons to attend, or to attend and speak at, any meeting of the Committee.]

Textual Amendments

F2Sch. 3 para. 13A inserted (19.2.2013 for specified purposes, 1.4.2013 in so far as not already in force) by Financial Services Act 2012 (c. 21), s. 122(3), Sch. 2 para. 2(10) (with Sch. 20); S.I. 2013/113, art. 2(2), Sch. Pt. 4; S.I. 2013/423, art. 3, Sch.