Section 48(1)

The following functions of the Bank are to be exercised by the Bank acting through the FMI Committee (and, except as authorised by this section, are not to be exercised in any other way)— its FMI functions; such other functions of the Bank as the court of directors may specify as functions that are to be discharged by the FMI Committee.

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