ABSTRACT
An Act to amend the law relating to the issue of bank notes by the Bank of England and by banks in Scotland and Northern Ireland, and to provide for the transfer to the Bank of England of the currency notes issue and of the assets appropriated for the redemption thereof, and to make certain provisions with respect to gold reserves and otherwise in connection with the matters aforesaid and to prevent the defacement of bank notes. (2nd July 1928.)
BE it enacted by the King'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, as follows:—
1.—(1) Notwithstanding anything in any Act-(a) the Bank may issue bank notes for one pound and for
ten shillings: (b) any such bank notes may be issued at any place out of
London without being made payable at that place, and wherever issued shall be payable only at the head office of the Bank:
(c) any such bank notes may be put into circulation in Scotland and Northern Ireland, and shall be current and legal tender in Scotland and Northern Ireland as in England.
