Moved by
Lord Bridges of Headley
5: Clause 5, page 4, line 27, leave out subsections (1) to (7) and insert—
“( ) Paragraph 11 of Schedule 1 to the Bank of England Act 1998 (matters which may be delegated by court of directors) is amended as follows.
( ) In sub-paragraph (2) after “paragraph” insert—
“(a) include duties and powers conferred on the court of directors by section 9A (financial stability strategy), but
(b) except as mentioned in paragraph (a),”
( ) After sub-paragraph (2) insert—
“(3) The court of directors retains responsibility for a duty or power which it delegates under this paragraph.””