PART 1The Bank of England
Governance
I14Functions of non-executive directors
1
Schedule 1 to the Bank of England Act 1998 (court of directors) is amended as follows.
2
In paragraph 14 (remuneration)—
a
at the beginning insert—
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.
b
in sub-paragraph (1) for “the Oversight Committee” substitute “
that sub-committee
”
.