Regulation 3 Designation date
(1)
In accordance with section 214A(4)(b) of the 2009 Act, the Treasury must determine the designation date for the purposes of these Regulations.
(2)
Before the designation date, the Treasury must publish in the London Gazette and the Edinburgh Gazette notice of the designation date, stating that—
(a)
it is the designation date for the purposes of these Regulations; and
(b)
from the beginning of the designation date—
(i)
Original Royal Bank of Scotland will no longer be authorised to issue banknotes in Scotland; and
(ii)
New Royal Bank of Scotland will be authorised to issue banknotes in Scotland.