Part 8

Attachment of money

Money attachment

Meaning of “money” and related expressions
175
1
In this Part—
- “cash” means coins and banknotes in any currency;
- “banking instrument” means—
  1. cheques and other instruments to which section 4 of the Cheques Act 1957 (c. 36) applies;
  2. any document (other than one mentioned in section 4(2)(c) of that Act) issued by a public officer which is intended to enable a person to obtain payment from a government department of the sum mentioned in it;
  3. promissory notes (other than banknotes);
  4. other negotiable instruments; and
  5. money orders and postal orders; and
- “money” means cash and banking instruments but does not include any cash or instrument which has an intrinsic value greater than any value it may have as a medium of exchange; and any reference to the value of money is, unless the context otherwise requires, a reference to—
  1. the amount of cash;
  2. where that cash is in a currency other than sterling, the amount in sterling which that cash would realise on its conversion under section 177(3) of this Act;
  3. the amount in cash which would be obtained were the value of a banking instrument realised; and
  4. in the case where money comprises both cash and instruments, the aggregate of the amounts referred to in, as the case may be, paragraphs (a) to (c) above.
2
In the definition of “banking instrument” in subsection (1) above, “government department” includes—
a
any Minister of the Crown;
b
any part of the Scottish Administration;
c
the National Assembly for Wales;
d
the Northern Ireland Assembly, any Northern Ireland Minister or Northern Ireland junior Minister and any Northern Ireland department.
3
The Scottish Ministers may by order modify the definition of “banking instrument” in subsection (1) above so as to—
a
add or remove types of instrument to or, as the case may be, from those referred to in that definition; or
b
vary the descriptions of the types of instrument so referred to.
S. 175 wholly in force at 23.11.2009; s. 175 not in force at Royal Assent see s. 227; s. 175(3) in force for certain purposes at 1.4.2008 by S.S.I. 2008/115, art. 3(4), Sch. 3 (with arts. 4-6, 10); s. 175 in force at 23.11.2009 in so far as not already in force by S.S.I. 2009/369, art. 3 (with transitional modifications in art. 4)