(1) If it appears to the Treasury that any action proposed to be taken by the Bank of England in exercising its powers under this Part would be incompatible with any international obligations of the United Kingdom, the Treasury may direct the Bank not to take that action.

(2) If it appears to the Treasury that any action which the Bank of England has power under this Part to take is required for the purpose of implementing any such obligation, the Treasury may direct the Bank to take that action.

(3) A direction under this section -

(a) may include such supplemental or incidental requirements as the Treasury consider necessary or expedient, and

(b) is enforceable on an application by the Treasury, by injunction or, in Scotland, by an order for specific performance under section 45 of the Court of Session Act 1988.