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Bank Notes (Scotland) Act 1845

8 & 9 Vict. c. 38 · Enacted 21 July 1845 · Extends to United Kingdom

Up to date with all changes known to legislation.gov.uk, revised to 23 November 2009.

An Act to regulate the Issue of Bank Notes in Scotland.

[21st July 1845]C1C2

Annotations to the whole text

Modifications

C1

Short title given by Short Titles Act 1896 (c. 14) Act amended by Stamp Act 1854 (c. 83), s. 11 and Coinage Act 1971 (c. 24), s. 12(2), Sch. 2

C2

Preamble omitted under authority of Statute Law Revision Act 1891 (c. 67)

Contents

  1. 1Commissioners to certify existing banks of issue and limitation of issue. Repealed
  2. 2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  3. 3Duplicate of certificate to be published in the Gazette. Gazette to be evidence. Repealed
  4. 4In case banks become united, commissioners to certify the amount of bank notes which each bank was authorized to issue. Repealed
  5. 5Issue of notes for fractional parts of a pound prohibited. Repealed
  6. 6Limitation of bank notes in circulation. Repealed
  7. 7Issuing banks to render accounts weekly. Repealed
  8. 8What shall be deemed to be bank notes in circulation Repealed
  9. 9Commissioners of stamps and taxes to make a monthly return. Repealed
  10. 10Mode of ascertaining the average amount of bank notes of each banker in circulation and gold coin, during the first four weeks after 31st December 1845. Repealed
  11. 11In taking the account of coin held by bankers, silver coin not to exceed the proportion of one fourth of gold. Repealed
  12. 12Commissioners of inland revenue empowered to cause the books of bankers containing accounts of their bank notes in circulation, and of gold coin, to be inspected. Penalty for refusing to allow such inspection Repealed
  13. 13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  14. 14Penalty on banks issuing in excess. Repealed
  15. 15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  16. 16Notes for less than 20s. not negotiable in Scotland.
  17. 17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  18. 18Penalty for persons, other than bankers hereby authorized, issuing notes payable on demand for less than 5l.
  19. 19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  20. 20Not to prohibit checks on bankers. Repealed
  21. 21Mode of recovering penalties.
  22. 22Interpretation of Act.
  23. 23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Repealed
  24. Schedule (A)Schedule (A)
  25. Schedule (B)Schedule (B)
  26. Schedule (C), (D)Schedule (C), (D)

1Commissioners to certify existing banks of issue and limitation of issue.F1

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2. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F1

3Duplicate of certificate to be published in the Gazette. Gazette to be evidence.C1F1

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4In case banks become united, commissioners to certify the amount of bank notes which each bank was authorized to issue.F1

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5Issue of notes for fractional parts of a pound prohibited.F1

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6Limitation of bank notes in circulation.F1

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7Issuing banks to render accounts weekly.C1F1

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8What shall be deemed to be bank notes in circulationF1

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9Commissioners of stamps and taxes to make a monthly return.C1F1

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10Mode of ascertaining the average amount of bank notes of each banker in circulation and gold coin, during the first four weeks after 31st December 1845.C1F1

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11In taking the account of coin held by bankers, silver coin not to exceed the proportion of one fourth of gold.C1F1

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12Commissioners of inland revenue empowered to cause the books of bankers containing accounts of their bank notes in circulation, and of gold coin, to be inspected. Penalty for refusing to allow such inspectionF2C1C2F1

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13. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F1

14Penalty on banks issuing in excess.F1

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15. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F1

16Notes for less than 20s. not negotiable in Scotland.

All promissory or other notes, bills of exchange, or drafts, or undertakings in writing, being negotiable or transferable, for the payment of any sum or sums of money, or any orders, notes, or undertakings in writing, being negotiable or transferable, for the delivery of any goods, specifying their value in money less than the sum of F1one pound in the whole, heretofore made or issued, or which shall hereafter be made or issued in Scotland, shall be and the same are hereby declared to be absolutely void and of no effect, any law, statute, usage, or custom to the contrary thereof in anywise notwithstanding; and if any person or persons shall by any art, device, or means whatsoever, publish or utter in Scotland any such notes, bills, drafts, or engagements as aforesaid for a less sum than one pound , or on which less than the sum of one pound shall be due, and which shall be in anywise negotiable or transferable, or shall negotiate or transfer the same in Scotland, every such person shall forfeit and pay for every such offence any sum not exceeding twenty pounds nor less than five pounds, at the discretion of the justice of the peace who shall hear and determine such offence.

17. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F1

18Penalty for persons, other than bankers hereby authorized, issuing notes payable on demand for less than 5l.

If any body politic or corporate or any person or persons shall make, sign, issue, or re-issue in Scotland any promissory note payable on demand to the bearer thereof for any sum of money less than the sum of five pounds, F1 except banknotes issued in reliance on section 213 of the Banking Act 2009 , then and in either of such cases every such body politic or corporate or person or persons so making, signing, issuing, or re-issuing any such promissory note as aforesaid, except as aforesaid, shall for every such note so made, signed, issued, or re-issued forfeit the sum of twenty pounds.

19. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F1

20Not to prohibit checks on bankers.F1

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21Mode of recovering penalties.

All pecuniary penalties under this Act may be sued or prosecuted for and recovered . . . F1, in respect of any penalty not exceeding twenty pounds, by information or complaint before one or more justice or justices of the peace in Scotland, in such and the same manner as any other penalties imposed by any of the laws now in force relating to the duties under the management of the F2commissioners of inland revenue ; . . .

22Interpretation of Act.

. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . F1 in this Act. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . the term “ banker” shall extend and apply to all corporations, societies, partnerships, and persons, and every individual person carrying on the business of banking, whether by the issue of bank notes or otherwise; and the word “ person” used in this Act shall include corporations; and the word “ coin” shall mean the coin of this realm; and the singular number in this Act shall include the plural, and the plural number the singular, except where there is anything in the context repugnant to such construction; and the masculine gender in this Act shall include the feminine, except where there is anything in the context repugnant to such construction.

23. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .F1

Schedule (A)F1

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Schedule (B)F1

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Schedule (C), (D)F1

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