[SCHEDULE 6A Prudential Regulation Committee]
Bank of England Act 1998 (1998 c 11) | Legislation

[SCHEDULE 6A Prudential Regulation Committee]

[Section 30A]

[Interpretation

1

In this Schedule—

“chief executive for prudential regulation†means the Deputy Governor for prudential regulation, acting in his or her capacity as a member of the Committee or by virtue of a delegation under paragraph 17;

“the Committee†means the Prudential Regulation Committee;

“prudential regulation strategy†means the strategy determined by the Prudential Regulation Authority under section 2E of the Financial Services and Markets Act 2000.

Appointment of members by Chancellor

2

Before appointing a person as a member of the Committee under section 30A(2)(g), the Chancellor of the Exchequer must—

(a)     be satisfied that the person has knowledge or experience which is likely to be relevant to the Committee's functions, and

(b)     consider whether the person has any financial or other interests that could substantially affect the functions as member that it would be proper for the person to discharge.

Term of office of appointed members

3

(1)     Appointment as a member of the Committee under section 30A(2)(f) or (g) is to be for a period of 3 years, but this is subject to sub-paragraph (2) and to paragraph 5.

(2)     Initially

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