Mervyn King, Baron King of Lothbury in 1990 as a non-executive director, and became the chief economist in 1991. In 1998, he became a deputy governor of the bank and a member of the Group of Thirty. King was appointed as Governor of the Bank of England in 2003, succeeding Edward George. Most notably, he oversaw the bank during the financial crisis of 2007–2008 and the Great Recession. King retired from his office as governor in June 2013, and was succeeded by Mark Carney. He was appointed a life peer and entered the House of Lords as a crossbencher in July 2013. Since September 2014 he
Bank of England Act 1696 Bank of England Act 1708 (7 Ann c 30) (which is section 5 of chapter 7 in Ruffhead's Edition). Sections 1 to 25, 29, 38 to 44, 50, 51, 53 to 61, 63 to 68, 70 and 71 were repealed by section 1 of, and the Schedule to, the Statute Law Revision Act 1867. The whole Act was repealed by section 1(1) of, and Part IV of Schedule 1 to, the Statute Law (Repeals) Act 1973. So much of this Act as related to forging or counterfeiting the Common Seal of the Governor and Company of the Bank of England,