Part 7Miscellaneous

Bank of England

I1241Chair of court

1

For paragraph 13(3) of Schedule 1 to the Bank of England Act 1998 (court of directors: chairing meetings) substitute—

3

The Chancellor of the Exchequer may designate—

a

a member of the court to chair its meetings (“the chair of the court”), and

b

one or more members of the court as deputies to chair its meetings in the absence of the chair of the court.

2

For section 3(4) of that Act (sub-committee: chair) substitute—

4

The chair of the court (designated under paragraph 13 of Schedule 1) shall chair meetings of the sub-committee (when present).