10 Activities indemnified by Treasury
Bank of England and Financial Services Act 2016 (2016 c 14) | Legislation

10  Activities indemnified by Treasury

In the Bank of England Act 1998, after section 7A insert—

“7B Reports on Bank activities indemnified by Treasury

(1)     This section applies where the Treasury give an indemnity or guarantee to the Bank in respect of an activity or series of activities undertaken by the Bank.

(2)     The Treasury may direct the Bank to prepare a financial report in relation to the activity or series of activities to which the indemnity or guarantee relates.

(3)     A direction under subsection (2) may include directions as to—

(a)     the financial years for which a report is to be prepared,

(b)     the information to be contained in the report and the manner in which it is to be presented, and

(c)     the methods and principles according to which any statement of financial information to be contained in the report is to be prepared.

(4)     A direction under subsection

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