Officials of the Bank and general duties of officials
7C Officials of the Bank and general duties of officials
For the purposes of the Public Governance, Performance and Accountability Act 2013, the following members of the Bank’s Boards are officials (within the meaning of that Act) of the Bank:
the Governor;
the Deputy Governor;
the senior RBS member;
each external Governance Board member;
if the Bank’s PSB member is a staff member of the Reserve Bank Service—the Bank’s PSB member.
Paragraphs (a) to (d) cover all of the Governance Board members.
A member of the Monetary Policy Board or the Payments System Board who is not covered by subsection (1) is taken, for the purposes of the Public Governance, Performance and Accountability Act 2013, not to be an official (within the meaning of that Act) of the Bank.
Provisions about general duties of officials still apply to members who are not officials
Subdivision A of Division 3 of Part 2‑2 of the Public Governance, Performance and Accountability Act 2013 (which deals with general duties of officials) applies in relation to a member of the Monetary Policy Board or the Payments System Board who is not covered by subsection (1) as if the member were an official (within the meaning of that Act) of the Bank.
Section 29 of the Public Governance, Performance and Accountability Act 2013 (which is in Subdivision A of Division 3 of Part 2‑2 of that Act, and deals with the duty to disclose interests) is affected by Subdivision C of this Division.
This Act’s bill:Second reading speech
The statute text is free to read above. View subscription options to unlock the case-law research tools for each provision.