16 Functions of [F1court of directors ].U.K.
(1)The [F2court of directors of the Bank ] shall keep the procedures followed by the Monetary Policy Committee under review.
(2)In particular, [F3the court's function] under subsection (1) shall include determining whether [F4the Monetary Policy Committee] has collected the regional, sectoral and other information necessary for the purposes of formulating monetary policy.
F5(3). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
Textual Amendments
F1Words in s. 16 heading substituted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 16(4) (with Sch. 3); S.I. 2016/627, reg. 2(2)(f)
F2Words in s. 16(1) substituted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 16(2) (with Sch. 3); S.I. 2016/627, reg. 2(2)(f)
F3Words in s. 16(2) substituted (6.7.2016) by Bank of England and Financial Services Act 2016 (c. 14), s. 41(3), Sch. 2 para. 16(3) (with Sch. 3); S.I. 2016/627, reg. 2(2)(f)
F4Words in s. 16(2) substituted (1.4.2013) by Financial Services Act 2012 (c. 21), ss. 3(4)(b)(ii), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.
F5S. 16(3) omitted (1.4.2013) by virtue of Financial Services Act 2012 (c. 21), ss. 3(4)(c), 122(3) (with Sch. 20); S.I. 2013/423, art. 3, Sch.