-Caveat Lector- from: http://www.bankofengland.co.uk/court.htm <A HREF="http://www.bankofengland.co.uk/court.htm">The Bank of England-About the Bank-Court of Dir </A> ----- Home Page About Us Press Releases Publications Banknotes E-Mail Museum CCBS What's New ------------------------------------------------------------------------ The Court of Directors The Bank of England Act 1998, which came into force on 1 June 1998, changed the constitution and duties of the Court of Directors from that set out in the previous Act of 1946, strengthening the Bank's governance and accountability, as well as formalising the Bank's responsibility for the conduct of monetary policy. The 1998 Act provides for the appointment, by the Crown, of a Governor, two Deputy Governors and sixteen Non-Executive Directors. The term of appointment for the Governor and two Deputy Governors is five years and for the Directors, three years, all of which are renewable. Court meets at least once a month, and its functions are to manage the Bank's affairs other than the formulation of monetary policy, which is the responsibility of the Monetary Policy Committee. This includes determining the Bank's objectives and strategy, ensuring the effective discharge of the Bank's functions and ensuring the most efficient use of the Bank's resources. The sixteen Non-Executive Directors form a Committee of Court to review the Bank's performance in relation to its objectives and strategy, monitoring its financial management, reviewing its internal financial controls and determining the Governor's and Deputy Governors' remuneration. The Committee is also responsible for reviewing the procedures of the Monetary Policy Committee, and in particular, whether the latter has collected the regional, sectoral and other information necessary for formulating monetary policy. The Chancellor of the Exchequer has designated Dame Sheila Masters to chair the Non-Executive Directors' Committee, and to chair Court in the Governor's absence. ------------------------------------------------------------------------ Court of Directors - 1 January 1999 Date of first appointment in current positionExpiry date of appointment Edward Alan John George, Governor (first appointed to the Court 1 March 1982 and appointed Deputy Governor 1 March 1990)1 July 199330 June 2003 David Cecil Clementi, Deputy Governor, Financial Stability 1 September 199731 August 2002 Mervyn Allister King Deputy Governor, Monetary Stability (first appointed to Court 1 March and appointed Executive Director 1 March 1991) 1 June 199831 May 2003 Dame Sheila Valerie Masters DBE Chairman, Committee of Non-Executive Directors (Partner, KPMG) 1 March 199431 May 2001 Christopher John Allsopp (Fellow in Economics, New College, Oxford)2 June 199731 May 1999 Roy Ernest Bailie, OBE (Chairman, W&G Baird Holdings Ltd)1 June 199831 May 2000 Andrew Robert Fowell Buxton (Director, Barclays Bank, Middle East and North Africa)1 March 199731 May 2001 Sir David James Scott Cooksey (Chairman, Advent Ltd)1 March 199431 May 2001 Howard John Davies (Chairman, Financial Services Authority - first appointed to Court as Deputy Governor 11 September 1995 and resigned 31 July 1997) 1 March 199831 May 1999 Graham Alfred Hawker, CBE (Chief Executive, Hyder plc)1 June 199831 May 2000 Frances Anne Heaton (Director, Lazard Brothers & Co., Ltd)1 March 199331 May 2001 Sir John Chippendale Lindley Keswick (Senior Banking and Capital Markets Adviser, SG Hambros)1 March 199331 May 2001 Sir David Bryan Lees (Chairman, Tate & Lyle plc) (Chairman, GKN plc)1 March 199131 May 1999 Sheila Marshall McKechnie, OBE (Director, Consumers' Association)1 June 199831 May 2000 William Morris (General Secretary, Transport and General Workers' Union)1 June 199831 May 2000 John Mitchell Neill CBE (Deputy Chairman and Group Chief Executive, Unipart Group of Companies)1 March 199631 May 2000 Sir Neville Ian Simms (Deputy Chairman and Group Chief Executive, Tarmac plc)1 March 199531 May 1999 Sir Colin Grieve Southgate (Chairman, EMI Group plc)1 March 199131 May 1999 James Stretton (Chief Executive, UK Operations, Standard Life Assurance Company)1 June 199831 May 2000 ----- Aloha, He'Ping, Om, Shalom, Salaam. Em Hotep, Peace Be, Omnia Bona Bonis, All My Relations. Adieu, Adios, Aloha. Amen. Roads End Kris DECLARATION & DISCLAIMER ========== CTRL is a discussion and informational exchange list. Proselyzting propagandic screeds are not allowed. Substance�not soapboxing! These are sordid matters and 'conspiracy theory', with its many half-truths, misdirections and outright frauds is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. That being said, CTRL gives no endorsement to the validity of posts, and always suggests to readers; be wary of what you read. CTRL gives no credeence to Holocaust denial and nazi's need not apply. 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