Commentary on Sections Financial stability committee: supplemental Section 243: Tenure
543.Subsection (1) of this section provides for someone appointed as a Governor of the Bank or a Deputy to serve no more than two terms in either role. This does not stop a person serving in one role for two terms subsequently serving in another.
544.Subsection (3) provides that those members of the Monetary Policy Committee who are appointed by the Chancellor, rather than those appointed by the Governor, may serve a maximum of two terms.