Banking Act 2009

Authorisation to issue

212 Repeal of old authorising enactments

The following shall cease to have effect—

(a) section 1 of the Bank Notes (Scotland) Act 1845 (authorisation to issue banknotes), and

(b) section 8 of the Bankers (Ireland) Act 1845 (authorisation to issue banknotes).

213 Saving for existing issuers

An authorised bank may continue to issue banknotes after commencement, but only—

(a) in accordance with the provisions of this Part, and

(b) in the part of the United Kingdom in which it was authorised to issue banknotes before commencement.

214 Consequential repeals and amendments

(1) In the Bankers (Ireland) Act 1845—

(a) sections 9 to 23 cease to have effect,

(b) in section 26 for “except the Bank Notes of such Bankers as are hereby authorised to continue to issue Bank Notes as aforesaid” substitute “except banknotes issued in reliance on section 213 of the Banking Act 2009”,

(c) section 28 ceases to have effect, and

(d) Schedules A and B cease to have effect.

(2) In the Bank Notes (Scotland) Act 1845—

(a) every section ceases to have effect except for sections 16, 18, 21 and 22, and

(b) in section 18 for “except the Bank Notes of such Bankers as are hereby authorised to continue to issue Bank Notes as aforesaid” substitute “except banknotes issued in reliance on section 213 of the Banking Act 2009”.

(3) The following cease to have effect—

(a) section 12 of the Bank Charter Act 1844,

(b) section 9 of the Currency and Bank Notes Act 1928,

(c) sections 1 and 3 of, and the Schedule to, the Bankers (Northern Ireland) Act 1928, and

(d) in the Coinage Act 1971—

(i) section 12(4)(b) and (c), and

(ii) in Schedule 2 the entries relating to—

(a) the Bankers (Ireland) Act 1845,

(b) the Bank Notes (Scotland) Act 1845, and

(c) section 3 of the Bankers (Northern Ireland) Act 1928.