4 Treasury directions to the Bank and relations of the Bank with other banks

4  Treasury directions to the Bank and relations of the Bank with other banks

(1)     The Treasury may from time to time give such directions to the Bank as, after consultation with the Governor of the Bank, they think necessary in the public interest[, except in relation to[—

(a)]     monetary policy],

[(b)     the exercise by the Bank of its functions as the Prudential Regulation Authority (see section 2A of the Financial

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