1Court of directors
(1)There shall continue to be a court of directors of the Bank.
(2)The court shall consist of a Governor, 2 Deputy Governors and 16 directors of the Bank, all of whom shall be appointed by Her Majesty.
(3)On the day on which this Act comes into force, all persons who are, immediately before that day, holding office as director of the Bank shall vacate their office.
(4)Schedule 1 shall have effect with respect to the court.