Disclosure of interests—other decisions of the Monetary Policy Board and decisions of the Payments System Board
7E Disclosure of interests—other decisions of the Monetary Policy Board and decisions of the Payments System Board
This section applies if:
a member of the Monetary Policy Board has a material personal interest that relates to a matter being considered at a meeting of the Monetary Policy Board and section 7D does not apply; or
a member of the Payments System Board has a material personal interest that relates to a matter being considered at a meeting of the Payments System Board.
The following provisions:
section 29 of the Public Governance, Performance and Accountability Act 2013;
sections 12, 14, 15 and 16D of the Public Governance, Performance and Accountability Rule 2014;
apply to the member in relation to the member’s consideration of the matter at the meeting of the relevant Board as if:
the relevant Board were the accountable authority of the Bank; and
the member and each other member of the relevant Board were the members of the accountable authority; and
instead of referring to a material personal interest that relates to the affairs of the Bank, section 29 of that Act, and sections 14 and 15 of that Rule, referred to a material personal interest that relates to the affairs of the relevant Board.
This section applies:
despite section 7A and subsections 7C(1) and (3) of this Act; and
instead of any rules made for the purposes of section 29 of the Public Governance, Performance and Accountability Act 2013 (other than as referred to in paragraph (2)(b) of this section).
This Act’s bill:Second reading speech
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