Probate and Legacy Duties Act 1808

XVII Re-issuable Notes not to be issued by Bankers or others, without a Licence for that Purpose. Regulations respecting Licences.

And be it further enacted, That from and after the Tenth Day of October One thousand eight hundred and eight, it shall not be lawful for any Banker or Bankers, or other Person or Persons, (except the Governor and Company of the Bank of England, the Bank of Scotland, the Royal Bank of Scotland, and the British Linen Company,) to issue any Promissory Notes for Money payable to the Bearer on Demand, hereby charged with a Duty and allowed to be re-issued as aforesaid, without taking out a Licence yearly for that Purpose ; which Licence shall be granted by Two or more of the Commissioners of Stamps for the Time being, or by some Person deputed and authorized in that Behalf by the said Commissioners or the major Part of them, on Payment of the Duty charged thereon in the said Schedule hereunto annexed; and a separate and distinct Licence shall be taken out, for or in respect of every Town or Place where any such Promissory Notes shall be issued, by, or by any Agent or Agents for or on account of, any Banker or Bankers, or other Person or Persons, save only and except that One Licence yearly shall be sufficient for all the Towns or Places where any such Banker or Bankers or other Person or Persons shall have established a Branch of his or their Bank, or have employed an Agent for the issuing of such Promissory Notes as aforesaid, previously to the passing of this Act, so that every such Town or Place shall be notified to the Stamp Office, and be specified in the first Licence to be granted in pursuance of this Act, and that an Affidavit of the Fact shall be transmitted to the Stamp Office at the Time of applying for such Licence ; and every such Licence shall specify the proper Name or Names and Place or Places of Abode of the Person or Persons to whom the same shall be granted, and also the Name of the Town or Place, Towns or Places where, and the Name of the Bank, Firm or Title, under which such Notes are to be issued ; and where any such Licence shall be granted to Persons in Partnership, the same shall specify and set forth the Names and Places of Abode of all the Persons concerned in the Partnership, whether all their Names shall appear on the Promissory Notes to be issued by them or not, and in default thereof such Licence shall be absolutely void ; and every such Licence which shall be granted between the Tenth Day of October and the Eleventh Day of November in any Year shall be dated on the Eleventh Day of October, and every such Licence which shall be granted at any other Time shall be dated on the Day on which the same shall be granted; and every such Licence respectively shall have Effect and continue in force from the Day of the Date thereof until the Tenth Day of October following, both inclusive.