XVIThe Bank of Scotland, Royal Bank of Scotland, and British Linen Company, may issue Notes for 1l., 1 Guinea, 2l., and 2 Guineas, on unstamped Paper, accounting for the Duties.
Provided also, and be it further enacted, That from and after the Tenth Day of October One thousand eight hundred and eight it shall be lawful for the Governor and Company of the Bank of Scotland, and the Royal Bank of Scotland, and the British Linen Company in Scotland, respectively, to issue their Promissory Notes for the Sums of One Pound, One Guinea, Two Pounds, and Two Guineas, payable to the Bearer on Demand, on unstamped Paper, in the Manner hitherto practised with regard to Notes of One Pound and One Guinea by the said Bank of Scotland and Royal Bank of Scotland, under the Authority of the said Act, passed in the Thirty-ninth Year of His Majesty's Reign, for granting to His Majesty certain Stamp Duties on Bills of Exchange and Promissory Notes for small Sums of Money ; they the said Governor and Company of the Bank of Scotland, and the Royal Bank of Scotland, and the British Linen Company respectively, giving such and the like Security, and keeping and producing true Accounts of all the Notes so to be issued by them respectively, and accounting for and paying the several Duties payable in respect of such Notes, in such and the same Manner in all respects as is and are prescribed and required by the said Act with regard to the Notes for One Pound and One Guinea of the Bank of Scotland and the Royal Bank of Scotland, thereby allowed to be issued on unstamped Paper ; and also to re-issue such Promissory Notes respectively from Time to Time, after the Payment thereof, as often as they shall think fit; and for the said Licence and Privilege hereby granted, the said Governor and Company of the Bank of Scotland, and the Royal Bank of Scotland, and the British Linen Company respectively shall, instead of taking out such Licence as herein-after is mentioned, pay into the Hands of the Head Collector of the Stamp Duties at Edinburgh the yearly Sum of Twenty Pounds on the Fifteenth Day of October in every Year, to be by him accounted for, and to be applied in the same Manner as the Duties on Licences to be taken out by Bankers, as herein-after is directed.