49 Bank of England: rule-making powers
Financial Services and Markets Act 2023 (2023 c 29) | Legislation

49  Bank of England: rule-making powers

(1)     FSMA 2000 is amended as follows.

(2)     After section 300H (inserted by section 11) insert—

“Bank of England rules

300I Duty of Bank of England to review rules

(1)     The Bank of England must keep under review generally any rules made by the Bank under this Act.

(2)     Subsection (1) does not apply to rules made for the purpose of complying with a recommendation of the Financial Policy Committee of the Bank of England under section 9O of the Bank of England Act 1998 (making of recommendations within the Bank).

300J Statement of policy relating to review of rules

(1)     The Bank of England must prepare and publish a statement of policy with respect to its review of rules under section 300I.

(2)     The statement must provide information about—

(a)     how representations (including by a statutory panel) can be made to the Bank with respect to its review of rules under section 300I, and

(b)     the arrangements to ensure that those representations are considered.

(3)     In this section “statutory panel” has the meaning given by section 1RB(5).

(4)     If a statement published under this section is altered or replaced, the Bank

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