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Report

Part of Bank of England and Financial Services Bill [HL] – in the House of Lords at 3:59 pm on 15th December 2015.

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Relevant documents: 11th, 12th and 16th Reports from the Delegated Powers Committee

Clause 3: Abolition of Oversight Committee

Amendment 1

Moved by Lord Bridges of Headley

1: Clause 3, page 4, line 6, at end insert—

“( ) In section 3C (reviews) after subsection (1) insert—

“(1A) Where they consider that to do so would contribute to the discharge by the court of directors of any of its oversight functions, the non-executive directors of the Bank (or a majority of them) may arrange—

(a) for a review to be conducted under this section in relation to any matter by a person appointed by those directors, and

(b) for the person conducting the review to make one or more reports to the court of directors.””