Schedule 9: Wholesale cash distribution Part 1 – New Part 5A of the Banking Act 2009 Regulation Section 206K: Principles
Subsection (1) gives the Bank the power to publish principles to which recognised persons must have regard in performing relevant functions in relation to wholesale cash distribution activities.
	Principles of general application may be published. Alternatively, subsection (2) provides that different principles may be published in relation to different wholesale cash distribution activities; different relevant functions; persons recognised as having market significance only and persons recognised as also having systemic significance.
	Subsection (3) provides that prior to publishing such principles, the Bank must consult such persons as appear to the Bank to be representative of persons likely to be affected by the principles and obtain the approval of HM Treasury.