(1)Where the amount of the balance standing to the credit or debit of an account at a bank on or after the appointed day is not a whole number of pounds, so much of that amount as is in shillings or pence may be treated as the corresponding amount in the new currency calculated in accordance with the provisions of Schedule 1 to this Act.
(2)In this section “bank” includes the National Savings Bank and any savings bank as defined in section 7(6) of the M1Payment of Wages Act 1960.
Marginal Citations