(1) The Bank of England may publish principles to which recognised persons must have regard in performing relevant functions in relation to wholesale cash distribution activities.
(2) Different principles may be published in relation to -
(a) different wholesale cash distribution activities;
(b) different relevant functions;
(c) persons recognised as having market significance only and persons recognised as also having systemic significance.
(3) Before publishing such principles, the Bank must -
(a) consult such persons as appear to the Bank to be representative of persons likely to be affected by the principles, and
(b) obtain the approval of the Treasury.