Banking Act 2009 (c. 1)

Part 6 U.K. Banknotes: Scotland and Northern Ireland

Regulations and rules U.K.

215 Banknote regulations U.K.

(1) The Treasury shall make regulations about the treatment, holding and issuing of banknotes by authorised banks (“banknote regulations”).

(2) Banknote regulations—

(a) shall be made by statutory instrument, and

(b) may not be made unless a draft has been laid before and approved by resolution of each House of Parliament.

Commencement Information

I1 S. 215 in force at 12.11.2009 for specified purposes and 23.11.2009 in so far as not already in force by S.I. 2009/3000, arts. 2, 3

216 Banknote rules U.K.

(1) Banknote regulations may require or permit the Bank of England to make rules (“banknote rules”) about any aspect of the treatment, holding or issuing of banknotes by authorised banks.

(2) In particular, banknote regulations may require or permit banknote rules to do anything which banknote regulations may do.

(3) Banknote rules—

(a) may make provision generally or only for specified purposes, cases or circumstances, and

(b) may make different provision for different purposes, cases or circumstances.

Commencement Information

I2 S. 216 in force at 12.11.2009 for specified purposes and 23.11.2009 in so far as not already in force by S.I. 2009/3000, arts. 2, 3