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Banking Act 2009

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Explanatory Notes
Explanatory Notes
Text created by the government department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Public Acts except Appropriation, Consolidated Fund, Finance and Consolidation Acts.
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497.Subsection (5) provides that an authorised bank loses the right to issue notes if it ceases to have permission under Part 4 of the Financial Services and Markets Act 2000 to carry out the regulated activity of accepting deposits.

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Banking Act 2009

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