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Bank of England and Financial Services Bill (HL Bill 65)

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EXPLANATORY NOTES

Explanatory notes to the Bill, prepared by Her Majesty’s Treasury, are published
separately as HL Bill 65—EN.

EUROPEAN CONVENTION ON HUMAN RIGHTS

Lord Bridges of Headley has made the following statement under section 19(1)(a) of
the Human Rights Act 1998:

In my view the provisions of the Bank of England and Financial Services Bill [HL] are
compatible with the Convention rights.

Contents

  1. Part 1

    The Bank of England

    1. Governance

      1. 1. Membership of court of directors

      2. 2. Term of office of non-executive directors

      3. 3. Abolition of Oversight Committee

      4. 4. Functions of non-executive directors

      5. 5. Financial stability strategy

      6. 6. Financial Policy Committee: status and membership

      7. 7. Monetary Policy Committee: membership

      8. 8. Monetary Policy Committee: procedure

    2. Financial arrangements

      1. 9. Audit

      2. 10. Activities indemnified by Treasury

      3. 11. Examinations and reviews

    3. Prudential regulation

      1. 12. Bank to act as Prudential Regulation Authority

      2. 13. Prudential Regulation Committee

      3. 14. Accounts relating to Bank’s functions as Prudential Regulation Authority

      4. 15. Transfer of property etc to Bank

    4. Consequential and transitional provision

      1. 16. Amendments relating to Part 1

      2. 17. Saving and transitional provision relating to Part 1

  2. Part 2

    Financial services

    1. Conduct of persons working in financial services sector

      1. 18. Extension of relevant authorised persons regime to all authorised persons

      2. 19. Rules about controlled functions: power to make transitional provision

      3. 20. Administration of senior managers regime

      4. 21. Rules of conduct

      5. 22. Misconduct

      6. 23. Decisions causing a financial institution to fail: meaning of insolvency

    2. Pensions guidance

      1. 24. Pensions guidance

    3. Information about resolution planning

      1. 25. Duty of Bank to provide information to Treasury

  3. Part 3

    Miscellaneous and general

    1. Banknotes in Scotland and Northern Ireland

      1. 26. Banks authorised to issue banknotes in Scotland and Northern Ireland

    2. General

      1. 27. Consequential provision

      2. 28. Extent

      3. 29. Commencement

      4. 30. Short title

    1. Schedule 1

      Prudential Regulation Committee

    2. Schedule 2

      Amendments relating to Part 1

      1. Part 1

        Bank of England Act 1998

      2. Part 2

        Other Acts

    3. Schedule 3

      Saving and transitional provision relating to Part 1

    4. Schedule 4

      Extension of relevant authorised persons regime to all
      authorised persons

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