Bank of England Act 1946
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Change 1
SECOND SCHEDULE
1 The term of office of the Governor and of the Deputy Governor shall be five years. 2 The term of office of the directors shall be four years, and four of them shall retire each year on the anniversary of the appointed day: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 A person who has held the office of Governor, Deputy Governor or director shall be eligible for re-appointment to that office or for appointment to any other of those offices. 4 A person shall be disqualified for holding the office of Governor, Deputy Governor or director if— (a) he is . . . a Minister of the Crown, or a person serving in a Government Department in employment in respect of which remuneration is payable out of moneys provided by Parliament; or (b) he is an alien within the meaning of the British Nationality and Status of Aliens Acts 1914 to 1943; or (c) he is subject to any disqualification which may be imposed by the charter of the Bank; and a person shall vacate any such office if he becomes subject to any such disqualification. 5 Where the office of a director is vacated under the foregoing paragraph, or by death or resignation, a person appointed to fill the vacancy shall hold office until the time when the person in whose place he was appointed would regularly have retired, and shall then retire. 6 Not more than four of the directors may be employed to give their exclusive services to the Bank. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
SECOND SCHEDULE
1 The term of office of the Governor and of the Deputy Governor shall be five years. 2 The term of office of the directors shall be four years, and four of them shall retire each year on the anniversary of the appointed day: . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 A person who has held the office of Governor, Deputy Governor or director shall be eligible for re-appointment to that office or for appointment to any other of those offices. 4 A person shall be disqualified for holding the office of Governor, Deputy Governor or director if— (a) he is . . . a Minister of the Crown, or a person serving in a Government Department in employment in respect of which remuneration is payable out of moneys provided by Parliament; or (b) he is an alien within the meaning of the British Nationality and Status of Aliens Acts 1914 to 1943; or (c) he is subject to any disqualification which may be imposed by the charter of the Bank; and a person shall vacate any such office if he becomes subject to any such disqualification. 5 Where the office of a director is vacated under the foregoing paragraph, or by death or resignation, a person appointed to fill the vacancy shall hold office until the time when the person in whose place he was appointed would regularly have retired, and shall then retire. 6 Not more than four of the directors may be employed to give their exclusive services to the Bank. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
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