PART 5The Bank of England Act 1998
Functions of the Oversight Committee12
1
Paragraphs (2) and (3) have effect until the commencement date.
2
Paragraphs 5 and 9 of Schedule 2A to the Bank of England Act 199816 (the Financial Policy Committee) have effect as if for “the Oversight Committee”, in each place, there were substituted “the sub-committee constituted under section 3 of that Act”.
3
Paragraph 15 of Schedule 1ZB to FSMA 200017 has effect as if—
a
in sub-paragraph (1) of that paragraph, for “the Oversight Committee” there were substituted “the sub-committee of the court of directors of the Bank constituted under section 3 of the Bank of England Act 1998”; and
b
in sub-paragraph (2) of that paragraph, for “that Committee” there were substituted “that sub-committee”.