Schedule 11, Part 4, paragraph 8

Before appointing a person to act as a temporary manager, the Bank must be satisfied that the person— has the qualifications, ability and knowledge to carry out the functions to be given to the temporary manager, and would not be subject to a conflict of interest as a result of the appointment. A person may not be appointed to act as a temporary manager for a period longer than one year, but is eligible for re-appointment (or further re-appointment) if paragraph 6(1) continues to apply in relation to the CCP. The Bank may vary the terms of the appointment of a temporary manager, or remove the temporary manager, at any time. A temporary manager is not liable for damages in respect of anything done in good faith for the purposes of or in connection with the functions of the appointment (subject to section 8 of the Human Rights Act 1998).

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Source: legislation.gov.uk · retrieved 2026-09-04