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An Act to regulate the Issue of Bank Notes in Scotland.
[21st July 1845]
WHEREAS by an Act made and passed in the Eighth Year of the Reign of Her Majesty, intituled An Act to regulate the Issue of Bank Notes, and for giving to the Governor and Company of the Bank of England certain Privileges for a limited Period, it was enacted, that from and after the passing of that Act no Person, other than a Banker who on the Sixth Day of May One thousand eight hundred and forty-four was lawfully issuing his own Bank Notes, should make or issue Bank Notes in any Part of the United Kingdom: And whereas it is expedient to regulate the Issue of Bank Notes by such Bankers as are now by Law authorized to issue the same in Scotland: Be it therefore enacted by the Queen's most Excellent Majesty, by and with the Advice and Consent of the Lords Spiritual and Temporal, and Commons, in this present Parliament assembled, and by the Authority of the same, That every Banker claiming to be entitled to issue Bank Notes in Scotland shall, within One Month next after the passing of this Act, give Notice in Writing to the Commissioners of Stamps and Taxes, at their head Office in London, of such Claim, and of the Place and Name and Firm at and under which such Banker has issued such Notes in Scotland during the Year next preceding the First Day of May One thousand eight hundred and forty-five, and thereupon the said Commissioners shall ascertain if such Banker was on the Sixth Day of May One thousand eight hundred and forty-four, and from thence up to the First Day of May One thousand eight hundred and forty-five, carrying on the Business of a Banker and lawfully issuing his own Bank Notes in Scotland, and if it shall so appear then the said Commissioners shall proceed to ascertain the average Amount of the Bank Notes of such Banker which were in Circulation during the said Period of One Year preceding the First Day of May One thousand eight hundred and forty-five, according to the Returns made by such Banker in pursuance of the Act passed in the Fourth and Fifth Years of the Reign of Her present Majesty, intituled An Act to make further Provision relative to the Returns to be made by Banks of the Amount of their Notes in Circulation ; and the said Commissioners, or any Two of them, shall certify under their Hands to such Banker the average Amount when so ascertained as aforesaid, omitting the Fractions of a Pound, if any ; and it shall be lawful for every such Banker to continue to issue his own Bank Notes after the Sixth Day of December One thousand eight hundred and forty-five, to the Extent of the Amount so certified, and of the Amount of Gold and Silver Coin held by such Banker at the head Office or principal Place of Issue of such Banker, in the Proportion and Manner herein-after mentioned, but not to any further Extent; and from and after the Sixth Day of December One thousand eight hundred and forty-five it shall not be lawful for any Banker to make or issue Bank Notes in Scotland, save and except only such Bankers as shall have obtained such Certificate from the Commissioners of Stamps and Taxes.
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