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Bank of England Act 1998

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This is the original version (as it was originally enacted).

12Specification of matters relevant to objectives

(1)The Treasury may by notice in writing to the Bank specify for the purposes of section 11—

(a)what price stability is to be taken to consist of, or

(b)what the economic policy of Her Majesty’s Government is to be taken to be.

(2)The Treasury shall specify under subsection (1) both of the matters mentioned there—

(a)before the end of the period of 7 days beginning with the day on which this Act comes into force, and

(b)at least once in every period of 12 months beginning on the anniversary of the day on which this Act comes into force.

(3)Where the Treasury give notice under this section they shall—

(a)publish the notice in such manner as they think fit, and

(b)lay a copy of it before Parliament.

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