Authorisation to issue
Section 212: Repeal of old authorising enactments
464.Authorised banks were given permission to issue banknotes by certain provisions of the Bank Notes (Scotland) Act 1845 and the Bankers (Ireland) Act 1845, as subsequently amended. This section repeals those provisions.
Section 213: Saving for existing issuers
465.This section ensures that authorised banks may still continue to issue banknotes, provided that they meet the requirements set out in this Part. No other banks may start issuing banknotes in Scotland or Northern Ireland. Authorised banks may issue banknotes only in the part of the United Kingdom in which they were authorised to do so before commencement of this Act as enacted.
Section 214: Consequential repeals and amendments
466.This section sets out the further legislative repeals and amendments that are required as a result of the provisions of section 212.
