Section 1

. . . F1, it shall not be lawful for any person or persons whatsoever, bodies politick or corporate, to issue or give, or cause to be issued or given, within . . . F2 Scotland, any note, ticket, token, or other writing, for money, of the nature of a bank note, circulated, or to be circulated as specie, but such as shall be payable, on demand, in lawful money of Great Britain, and without reserving any power, or option of delaying payment thereof for any time, or term whatsoever; . . .