1Limit on fiduciary note issues in Northern Ireland.
(1)The amount of the fiduciary note issues of the several banks mentioned in the first column of the Schedule to this Act shall be that specified in the second column of that Schedule; and the Bankers (Ireland) Act, 1845, shall, in its application to Northern Ireland, have effect as if those amounts had been the amounts certified in respect of the several banks under section eight of that Act: Provided that where by virtue of this subsection a bank is required to reduce its fiduciary note issue the reduction may be effected at any time within the period of six months next after the commencement of this Act by such stages as the Treasury may approve.
(2)The bank-notes which any such bank is by the Bankers (Ireland) Act, 1845, as amended by this Act, authorised to issue shall be in addition to any bank-notes which the bank is by any law for the time being in force in the Irish Free State authorised to issue within the Irish Free State.
2Restriction on putting in circulation notes issued out of the United Kingdom.
It shall not be lawful for a banker in Northern Ireland to pay out or put in circulation any bank or other notes forming part of the currency of any country outside the United Kingdom, except in such circumstances and to such extent as the Treasury may by any general or special licence authorise; and if any banker pays out or puts into circulation any notes in contravention of this section, he shall for each such note be liable to forfeit the sum of five pounds.
3Issues of notes against coins.
For the purposes of the provisions of the Bankers (Ireland) Act, 1845, which relate to the issue of banknotes against gold and silver coin, there shall not be included any gold or silver coin held by a banker at any office outside the United Kingdom.
4Short title, construction and commencement.
(1)This Act may be cited as the Bankers (Northern Ireland) Act, 1928, and shall be construed as one with the Bankers (Ireland) Act, 1845, and that Act and this Act may be cited together as the Bankers (Northern Ireland) Acts, 1845 and 1928.
(2)In the Bankers (Ireland) Act, 1845, references to the Dublin Gazette shall be construed as references to the Belfast Gazette.
(3)This Act shall come into operation on such date as the Treasury may by notice in the Belfast Gazette certify to be the date fixed under the said Currency Act, 1927, to be the appointed day for the purposes of section sixty of that Act.