Banking Act 2009

219Ceasing the business of issuing notes

This section has no associated Explanatory Notes

(1)If an authorised bank at any time after commencement stops issuing banknotes, it may not resume issuing banknotes in reliance on section 213.

(2)Banknote regulations or rules—

(a)may specify procedures to be followed by an authorised bank that intends to stop issuing banknotes, and

(b)may apply to an authorised bank for two years after it stops issuing banknotes.