Member

86: Clause 92, page 74, line 19, at end insert— ““Bank of England base rate” means— (a) the percentage rate announced from time to time by the Monetary Policy Committee of the Bank of England as the official dealing rate, being the rate at which the Bank is willing to enter into transactions for providing short term liquidity in the money markets, or(b) where an order under section 19 of the Bank of England Act 1998 is in force, any equivalent percentage rate determined by the Treasury under that section;”Member’s explanatory statement This amendment, together with an amendment to paragraph 13 of Schedule 9, moves the definition of “Bank of England base rate” into the overarching definitions clause from Schedule 9.