Provide that the appointment and dismissal of the Governor of the Bank of
England be subject to the consent of a Committee of the House of Commons;
and for connected purposes.
Be it enacted by the Queen’s most Excellent Majesty, by and with the advice and
consent of the Lords Spiritual and Temporal, and Commons, in this present
Parliament assembled, and by the authority of the same, as follows:—
In subsection (2) of section 1 of the Bank of England Act 1998 (appointment of
Governor, Deputy Governor and directors), for the words “all of whom shall
be appointed by Her Majesty” substitute “who shall be appointed—
in the case of the Governor, by Her Majesty with the consent of the
Treasury Committee of the House of Commons, and
(b) in all other cases, by Her Majesty”.
(2) After subsection (4) of that section, insert—
The references in this section and in Schedule 1 to the Treasury
Committee of the House of Commons—
if the name of that Committee is changed, are to be treated as
references to that Committee by its new name, and
if the functions of that Committee (or substantially
corresponding functions) become functions of a different
Committee of the House of Commons, are to be treated as
references to the Committee by which those functions are
Any question arising under subsection (5) is to be determined by the
Speaker of the House of Commons.”
In paragraph 8 of Schedule 1 to that Act (removal from office of Governor,
Deputy Governor and directors), after the words “Chancellor of the
Exchequer” insert “and, in the case of the Governor, the consent of the Treasury
Committee of the House of Commons”.
Bank of England (Appointment of Governor) BillPage 2
This Act may be cited as the Bank of England (Appointment of Governor) Act
(2) This Act comes into force on the day on which it is passed.
(3) This Act extends to Northern Ireland.