(1) The Bank of England may publish codes of practice about the performance by recognised persons of relevant functions in relation to wholesale cash distribution activities.
(2) Different codes of practice 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 a code of practice, the Bank of England must consult such persons as appear to the Bank to be representative of persons likely to be affected by the code.