(1) At the end of paragraph 1 of Schedule 1 to the Bank of England Act 1998 (Governor and Deputies: appointment) add -
"(3) A person may not be appointed as Governor more than twice.
(4) A person may not be appointed as Deputy Governor more than twice."
(2) At the end of paragraph 6 of that Schedule (re-appointment) insert "(subject to paragraph 1(3) and (4))".
(3) After paragraphs 1 and 2 of Schedule 3 to that Act (Monetary Policy Committee: appointment) insert -
"2A A person may not be appointed as a member of the Committee under section 13(2)(c) more than twice."
(4) At the end of paragraph 6 of that Schedule (re-appointment) insert "(subject to paragraph 2A)".